Jet Airways likely to cancel all flights temporarily

Cornelia Mascio
Aprile 16, 2019

"As you are aware, we have been working with the lenders to secure interim funding for our operations", Dube said.

An ET Now report quoted sources who said that the management the airline proposed to suspend all operations of the debt-laden airline at its board meeting.

The airline has suspended all its global flights till April 18 and its board is trying to chalk out future course of action after the airline failed to get emergency funding from lenders. Jet Airways CEO Vinay Dube assured employees, "We will keep you updated on all the critical developments".

No decision on interim funding has further led to extension of the suspension of the airline's worldwide operations.

On Monday, the airline in a letter to its employees said it planned to extend its suspension of global flights until Thursday as it had not received any interim funding from lenders. The airline had met lenders last Friday who asked Jet to submit a fresh plan for seeking emergency funds. The company management, he said would seek guidance from the board on the steps forward.

A body representing Jet Airways pilots had earlier on Monday appealed to Prime Minister Narendra Modi to save jobs at the airline and urged the State Bank of India to infuse the struggling carrier with Rs 1,500 crore as part of a rescue deal that was agreed upon last month. The airline had hoped to receive some funds on Monday evening as that would have allowed for clearance of salaries and a possible increase in its operational fleet.

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