SBI chairman: Jet Airways requires at least USD708m to resume operations

    State Bank of India‘s (SBI) chairman Rajnish Kumar reported Jet Airways will require a minimum equity investment of INR50 billion (USD708.3 million) to resume operations (CNBC-TV18/The Hindu BusinessLine/Telegraph India, 13/14-May-2019). Mr Kumar said SBI plans to approach potential investors who qualified to bid on its tender for the purchase of an up to 75% stake in Jet Airways but declined to bid, as well two unqualified bidders on the tender, to seek funds for the airline. He noted: “We will approach them but any new investor who puts in money will have to be convinced that there is a credible resolution plan”.