The proposed strike by pilots and engineers of the cash-strapped Jet Airways has been deferred in view of today’s meeting between the airline management and the State Bank of India. This was informed by the National Aviators Guild, the Union for Jet Airways’ pilots.

The two sides have been discussing a 1,500-crore rupee loan since last month as part of a rescue deal. Though the loan has been approved, the funds are not yet released.

Yesterday, more than 1,000 pilots and engineers of the airline had decided to stop flying from midnight, in effect grounding the airline. Over 1,100 pilots are meeting in Mumbai today to discuss the situation.