SBI: Revival plan on Jet Airways likely in a week’s time


A final resolution to Jet Airways’ revival plan is likely within a week, a top SBI official on Friday said, adding, “efforts are on, any resolution plan is a very complex process but broad contours are there”. The official said rescue plans are not a one- or two-day process as alignment of various stakeholders is required. “There are vendors, promoters and joint venture partners and there are complexities in all corporate accounts, not just Jet,” he added.

The comments by the SBI official assumes significance because it comes barely days after the Etihad board put on hold Jet’s plea on extending an interim funding of Rs 750 crore ahead of regulatory approvals to the bank-led resolution plan from the civil aviation ministry, Securities and Exchange Board of India, Competition Commission of India, and the the overseeing committee of the Indian Banks’ Association. Read more

You may also read!

Breaking news: Pakistan blacklisted over inaction on terror financing

The group finds Pakistan non-compliant on 32 of 40 compliance parameters on money laundering and terror financing. Pakistan has

Read More...

Countries must dismantle terror hubs: India, France

India and France on Thursday strongly condemned terrorism in all its forms and manifestations including cross-border terrorism and terror-related

Read More...

Air India fails to capitalise on Jet Airways woes

National carrier Air India has failed to capitalise on shutdown of Jet Airways so far, with its domestic passenger

Read More...

Leave a reply:

Mobile Sliding Menu