Business Standard

Tuesday, January 07, 2025 | 09:27 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

SBI says it has received two unsolicited bids for crisis-hit Jet Airways

This is nearly a month after the airlines was forced to ground all operations due to funding troubles

Jet Airways
Premium

Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by SBI, declined to extend more funds to keep the carrier going

Reuters Bangalore
State Bank of India (SBI) said on Friday that it has received two unsolicited bids for ailing Jet Airways, nearly a month after the debt-laden airline was forced to ground all operations due to funding troubles.

Jet, once India's largest private airline, stopped all flights on April 17 after its lenders, led by SBI, declined to extend more funds to keep the carrier going.

"(We have) made disproportionate efforts to keep Jet flying," the bank's chairman Rajnish Kumar told reporters.

The SBI announcement comes even as Jet's offices are being vacated at many airports across the country and employee access is being revoked.

SBI

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in