Aviation major Jet Airways has approached a consortium of bankers led by the State Bank of India (SBI) to raise Rs 5,000 crore in order to pay off part of its foreign debt, reported Mint quoting sources.

The airline has offered cash flows from credit card receivables as collateral to secure fresh loans, the report said.

The airline is seeking fresh loans to repay foreign lenders to whom six of its aircraft are pledged, the daily said, adding that part of the loan is also to help it tide over the current liquidity crunch.

Top Jet Airways officials have been meeting individual banks and outlining their plan, it said.