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Jet Airways in talks with SBI for ₹1500cr loan

Dec 31, 2018 11:31 IST

Embattled Jet Airways is in discussions to raise 1500 crore rupees from India's largest public sector lender, the State Bank of India. Jet has reportedly made its Middle-east partner Etihad as the guarantor for the loan. The move came as Jet was unable to reach negotiations with Etihad on a 2,400 crore bailout from overseas lenders, which is still in progress. The debt-laden carrier has suffered losses over 1000 crore rupees in three consecutive quarters and has 8052 crore rupees in total debt.