Bankruptcy is the “last option” for Jet Airways, State Bank of India’s (SBI) chairman said on Wednesday, adding that it might still be possible to draft in a new investor to keep the airline flying.
“We believe it is in everybody’s interest that Jet Airways continues to fly,” SBI chairman Rajnish Kumar told reporters after meeting government officials, adding that placing Jet into bankruptcy would mean grounding the airline.
The SBI chief said that a resolution plan was “almost” ready and that it would not involve a bailout for any individual, including the airline’s founder and chairman Naresh Goyal.
On Wednesday, the SBI chief met finance minister Arun Jaitley along with aviation secretary Pradip Singh Kharola and principal secretary to Prime Minister Nripendra Misra.
