With 'hope to bring the flying sun back into the skies', cash-strapped Jet Airways cancels all flights
Mumbai, Apr 17 (IBNS): Cash-strapped Jet Airways has cancelled all its international and domestic flight and it will operate its last flight today.
In a statement, the airline said: "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. 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," it said.
The airline has informed the DGCA, and the Ministries of Civil Aviation and Finance and other relevant government institutions, of this development.
The airline, the statement said, was "unable to conduct flight operations in a manner that delivers to the very reasonable expectations of its guests, employees, partners and service providers" because of the lack of money.
Jet Airways will now wait for the bid finalisation process by SBI and the consortium of Indian Lenders, who are looking for an investor to buy a majority stake in the airline and turn it around.
In its response to the airline, the lenders have said: “The Expressions of Interest (EOI) have been received and bid documents have been issued to the eligible recipients today. The bid documents inter alia has solicited plans for a quick revival of the company. The bid process will conclude on 10th May 2019 … We are actively working to try and ensure that the bid process leads to a viable solution for the company.”
The airline will inform all guests about the temporary suspension of flight operations via text message or email to the contact details listed in their bookings.
"We hope to bring the flying sun back into the skies," the Jet statement said.
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