Jet Airways has not yet approached the bank for funds: SBI chairman

Beleaguered carrier Jet Airways Ltd has not yet approached State Bank of India (SBI) for any funds, the chairman of the country's top bank said on Tuesday, according to television channel CNBC-TV18.

Jet, India's biggest full-service carrier, told staff earlier this month it was running out of money, a source had told Reuters, but it has denied this and said it is confident of cutting costs and keeping its planes flying.

Shares of Jet, India's biggest full-service carrier, hit a three-year low on Friday after it deferred its earnings report due the previous day.

 

SBI chairman Rajnish Kumar said Jet's account with the bank is 'standard', according to CNBC-TV18.