Jet Airways Cancels All Flights
India’s Jet Airways has suspended all flights after failing to attract interim funding to keep it in the air.
Jet said it was informed by the State Bank of India (SBI) that lenders were unable to consider the airline's request for critical interim 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.
“Consequently, with immediate effect, Jet Airways is compelled to cancel all its international and domestic flights.”
The airline said it had made “a painstaking evaluation of all alternatives” made available to it, but had been left with no choice but to go ahead with the temporary suspension of flights.
Bids for the airline end on May 10, 2019, with the SBI-led group of investors “actively working to try and ensure that the bid process leads to a viable solution for the company.”
Jet Airways expressed gratitude to employees and stakeholders that stood by it, saying “We hope to bring the flying sun back into the skies.”