New Delhi: A consortium of banks is considering an interim funding of ₹500 crore for debt-laden Jet Airways (India) Ltd, but a final decision is yet to be taken, Punjab National Bank managing director Sunil Mehta said on Friday. PNB is part of the lenders’ consortium, led by State Bank of India (SBI), that has extended loans to the airline.
The consortium is looking at the entire process and something is being worked out.
“Of course, (the) consortium is in favour (of interim funding). It is a going concern and we would like to preserve its (airline’s) value,” Mehta said. “It is too premature to tell you about that plan (interim funding)”, bankers are already working on it, he added.
