Jet Airways gets $293m debt lifeline from Indian lender PNB

Photo: Abhijit Bhatlekar/Mint

Jet Airways (India) Ltd has secured fresh credit facilities of ₹2,050 crore ($292.84 million) from state-run Punjab National Bank (PNB) that could provide a temporary lifeline to the cash-strapped airline. The Mumbai-based airline has raised foreign currency term loans worth ₹1,100 crore and a non-fund based credit facility of ₹950 crore from PNB, according to loan documents, copies of which were reviewed by Mint.

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