New Delhi, January 16: Crisis-hit Jet Airways Wednesday said State Bank of India along with other lenders and stakeholders is working on a comprehensive resolution plan to turnaround the airline. The full service carrier, which has been grappling with financial woes, defaulted on loan repayment to a consortium of Indian banks led by State Bank of India (SBI) on December 31, 2018.

In a statement, the airline said a resolution plan that contemplates various options, including proportion of equity infusion by various stakeholders and the consequent change in the company's board, is being worked out. Jet Airways Cancelling 20-30 Flights Daily Due To Cash Crunch; Private Carrier Yet To Pay Salaries Of September.

"SBI in consultation with the other members of the consortium and the other stakeholders has been working on a comprehensive resolution plan towards a turnaround of the company for its sustained growth and restoration of financial health," Jet Airways said. Jet Airways Can't Fly Beyond 60 Days Unless Employees Take Pay Cuts.

The airline also said the resolution plan is presently under active discussion amongst the stakeholders and that the various options are yet to be crystallised and agreed to by the stakeholders in the best interests of the company.