Airlines Jet Airways temporarily suspends flight operations

The airline was informed by the State Bank of India that they are unable to consider a request from Jet Airways for critical interim funding. No emergency funding from the lenders is forthcoming. Therefore, the airline will not be able to pay for critical services and fuel for ongoing operations.

With immediate effect, the airline has decided to cancel all domestic and international flights. The decision was made after a deep evaluation of all alternatives has been made. In its process, the board of directors provided the officials with guidance and advice.

In the past months, Jet Airways has tried to seek interim and long-term funding – without success. Without interim funding, the airline is unable to conduct regulated flight operations that satisfy expectations of guests, employees, partners and service providers.

In its response to the airline, the lenders said: “The Expressions of Interest (EOI) have been received, and bid documents have been issued to the eligible recipients today. The bid documents among other things have solicited plans for a quick revival of the company. The bid process will conclude on 10th May 2019 … We are actively working on trying and ensuring that the bid process leads to a viable solution for the company.

In an official statement, the carrier added: "Jet Airways is hopeful that it will be able to bring the Joy of Flying back to its guests as soon as possible. Over the past 25 years, Jet Airways has established itself as India’s airline of choice and the flag-bearer of warm Indian hospitality around the world. The airline has proudly fuelled India’s economic engine, enabling business travellers and tourists alike to traverse the length and breadth of India and the world. Even during the toughest of times, Jet Airways employees have worn a smile on their face and put their duty to its guests and the nation first."

Jet Airways commenced operations in May 1993 and has its main operational hub at Chhatrapati Shivaji International Airport near Mumbai. Further hubs have been installed at Delhi and Bangalore. As of 2017, the carrier employed over 16,000 people and operated a fleet of over 120 aircraft, including Airbus A330s, ATR 72s, Boeing 737s and 777s.