New Delhi: The top lender of ailing Jet Airways India Ltd said the burden of reversing the grounded carrier’s negative net worth before it can fly again is the biggest challenge for any potential investor. “Liabilities and losses are considerable," Rajnish Kumar, chairman of State Bank of India, said in an interview with 'Bloomberg Television' on Thursday. Creditors led by State Bank of India have put Jet Airways up for sale after the carrier failed to pay back debt. Jet Airways has seen lessors taking away its aircraft while rivals start services on routes it previously operated. The deadline for submission of binding bids to take over control and ownership of Jet Airways is 10 May, Kumar said.

Source: Mint May 02, 2019 07:18 UTC