Jet Airways not marked as NPA, says PNB chairman

5/28/2019

Agencies, New Delhi Debt-ridden airline Jet Airways was not put in the bracket of Non-Profit Assets (NPA) by the Punjab National Bank, the public lendor said on Tuesday. "Jet Airways was not marked as the NPA of the bank," PNB chairman Sunil Mehta told reporters on the sidelines of a event here. Mr Mehta said the entire issue was looked after by the State Bank of India. The PNB has been monitoring the developments closely and was hopeful of coming out positive results. The cash-strapped airline Jet Airways had been facing a mountain debt of more than Rs 8,500 crore. The airline had on April 17 suspended all its flight operations temporarily due to lack of funds. The SBI-led consortium has invited bidding process to put the airline on the roadmap of recovery.

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