Jet Airways suspends all flight operations

A Jet Airways Boeing 737-800. Photo: © Aero Icarus

Indian airline Jet Airways has announced the suspension of all domestic and international operations. All flights will be cancelled, starting today, April 17th.

This comes after the airline had already grounded most of its fleet and temporarily cancelled large amounts of flights, including all international services.

The 1992-founded privately-owned carrier, which until recently, was India’s second largest airline, is in deep financial problems and now failed to secure an emergency funding with its biggest lender, the State Bank of India (SBI). Jet Airways had more than US $1.2 billion in debt. It was unable to pay the salaries of many of its employees (including pilots), as well as leasing fees for most of its aircraft, maintenance costs, and fuel expenses. As a result, large parts of the airline’s fleet had not been flying for weeks and thousands of flights were cancelled.

It is with deep sadness and with a heavy heart that we would like to share with you that, effective immediately, Jet Airways will be suspending all its domestic and international operations.Vinay Dube, CEO of Jet Airways

It is currently unknown whether Jet Airways will be able to restart operations. The airline stated that this suspension is only a ‘temporary’ measure. However, it mentioned no specific plan or timeline for a possible resumption of flights. A consortium led by the State Bank of India (SBI) is in active talks with several parties regarding a sale of up to 75% of Jet Airways’ stake.

We will now await the bid finalisation process by SBI and the consortium of Indian Lenders and will continue to support the bid process initiated by the lenders.Vinay Dube, CEO of Jet Airways

As of today, Jet Airways was operating less than 10 aircraft; down from 124 in December.

SHARE THIS ARTICLE

Latest Stories