Lenders remain committed to Jet revival: PNB

New Delhi, April 16 (IANS) As Jet Airways awaits emergency funding to stay afloat, the airline’s lenders on Tuesday said they remain committed to its revival.

Punjab National Bank (PNB) managing director and CEO Sunil Mehta said discussions were on to provide interim funding.

“Lenders are committed to Jet Airways’ revival. SBI and SBI Capital are working on a package but it has not been finalised,” he said.

Jet Airways has been awaiting an interim funding of Rs 1,500 crore from lenders. Its management held discussion with the banks on Monday, but could not get any assurance.

This forced the airline to extend suspension of its international operations.

“The interim funding has not been forthcoming thus far and as a result of this, we have extended cancellation of international operations to Thursday, April 19,” the airline CEO wrote to the employees.



(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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