All conditions for resolution plan must be met to bail out Jet Airways: SBI

Mumbai: State Bank of India (SBI) Chairman Rajnish Kumar said on Saturday that the comprehensive resolution plan to bail out Jet Airways will be implemented if all conditions by all stakeholders are met.

“Whatever is the resolution plan, it will be implemented if all the conditions by all the stakeholders–be it Naresh Goyal, Etihad or the lenders–are met,” he said while talking to media persons here.

Kumar said it is not a simple resolution plan and necessary approvals by the government will be required to put the ailing airline back on the track.

The cash-strapped airline has reportedly pledged its fixed deposits worth Rs 1,500 crore with the SBI to borrow Rs 225 crore.