SBI, which has an exposure to Jet Airways of about ₹1,600 crore, has in principle agreed to lend another ₹1,500 crore, subject to the bank satisfactorily completing a forensic audit of the airline’s books—a process that started in December. Jet Airways, India’s biggest full-service carrier by market share, owes money to pilots, lessors, banks and vendors. Jet Airways and SBI did not immediately respond to a request for comment. Jet Airways has a total of 124 aircraft, the vast majority of which are leased. SBI, which has an exposure to Jet Airways of about ₹1,600 crore, has in principle agreed to lend another ₹1,500 crore, the second person said, adding this is subject to the bank satisfactorily completing a forensic audit of the airline’s books—a process that started in December.

Source: Mint January 04, 2019 14:59 UTC