Jet Airways Halts All Flights After Lenders Pull the Plug

By Paul Riegler on 17 April 2019
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DSC_0297 (1)After weeks of uncertainty, Jet Airways has finally been grounded.

Once India’s second-largest carrier, the airline announced Wednesday that it was suspending all flights, saying it was a “very difficult decision.” The move came after the airline failed to secure emergency funding.

The company said it had been informed late Tuesday by its lenders, led by the State Bank of India, that they would be unable to grant its request for additional funding.

“Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going,” it said in a statement.

The struggling airline first cut all international flights earlier in the month and then found itself down to seven aircraft as it tried to stave off a total shutdown.

At the start of April, the airline discontinued flights to London, a major part of its business, and transferred its remaining London Heathrow slots to Etihad Airways, its part-owner.

In March, the airline sold a daily pair of slots at Heathrow intended for its third Mumbai service to Delta Airlines, which will use them for service to Detroit.

(Photo: Accura Media Group)

Accura News

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