Jet Airways is shutting down operations from tonight

Lloyd Doyle
April 17, 2019

This, despite officials at the Ministry of Finance saying that banks are working on a package for Jet Airways and funds would be made available.

The airline, once India's largest private carrier, has been forced in recent weeks to cancel hundreds of flights and to halt all flights to overseas destinations.

Accordingly, the last flight will leave the Amritsar airport at 2230 hrs for New Delhi as per its flight schedule.

Another source said Jet's board had authorised its chief executive Vinay Dube to go back to its main lender State Bank of India (SBI) one last time to plead for emergency funds.

It is now unknown whether Jet Airways will be able to restart operations.

An analysis of the latest data disclosed by India's Directorate General of Civil Aviation shows that Jet's lessors have, so far, sought to deregister and repossess at least 48 planes operated by Jet.

An airline statement said it had grounded flights because: "prolonged and sustained efforts with lenders and authorities did not yield the desired results".

"With immediate effect, we are compelled to cancel all our global and domestic flights".

In a statement that Jet Airways released announcing the halting of ops, the airline says it will "inform all guests about the temporary suspension of flight operations via text message or email to the contact details listed in their bookings".

The SBI-led consortium is looking for a buyer for Jet and a deadline passed on Friday for prospective bidders to express an interest in acquiring a 75% stake in the carrier. The bid process will conclude on 10th May 2019 ...

Jet Airways will temporarily suspend all flight operations from Wednesday night as it failed to secure an interim funding of Rs 400 crore for maintaining bare minimum operations, sources said on Wednesday, April 17.

"Even though we were fierce competitors, my sympathies go out to Naresh and Neeta Goyal who built Jet Airways that India should be extremely proud of".

The airline was once India's second-biggest by market share but is on the brink of collapse with debts of more than $1 billion.

The UK's Civil Aviation Authority tweeted advice to customers, outlining different approaches for seeking refunds depending on how the flight was booked. "We also appeal Prime Minister Narendra Modi to save 20,000 odd jobs at the airline", National Aviator's Guild ( NAG) vice president Adim Valiani told reporters at the airline's headquarter, Siroya Centre, in Monday.

Other reports by Iphone Fresh

Discuss This Article