Jet Airways fails on interim funding, operations suspended

Jet Airways

Mumbai, April 17: Jet Airways suspended all flights operations after it failed to secure an emergency fund infusion of Rs 400 crore on Wednesday.

The airline company will operate its last flight for the day at around 10.30 p.m.

“All jet airways flight, domestic and international, cancelled with immediate effect”, news agency ANI reported.

Presently, the airline only operated five aircraft with more than 25 flights.

The latest development assumes significance as just a day before the airline’s lenders stated that they remain committed to its revival.

Jet has already limited most of its flights due to grounding of more than 90 per cent of its fleet by lessors.

Awaiting the outcome of lenders’ meet with the government, the cash-strapped has extended cancellation of international flights till April 18 (Thursday) after last week suspending them till April 15 (Monday).

Jet owes around Rs 8,000 crore to the SBI-led consortium of lenders.

WeForNews

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