India’s leading private carrier Jet Airways has announced the suspension of all its domestic and international flights with immediate effect. The decision came when late last night, Jet Airways was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they are unable to consider its request for critical interim funding.
A statement from Jet Airways said 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 last flight will operate today,” the statement said.
This decision has been taken after a painstaking evaluation of all alternatives that were made available to the Company and after receiving guidance and advice on the same from its Board of Directors, Jet Airways said, adding that the company has informed the DGCA, and the Ministries of Civil Aviation and Finance and other relevant government institutions, of this course of action.
“Over the last several weeks and months, the company has tried every means possible to seek both interim and long-term funding. Unfortunately, despite its very best efforts, the airline has been left with no other choice today but to go ahead with a temporary suspension of flight operations,” the airline said.
