Jet Airways cancels all domestic and international flights

Apr 18 2019 09:35 AM
Jet Airways cancels all domestic and international flights

New Delhi: Jet Airways reeling under the debt burden of nearly Rs 8,000 crore, on Wednesday said that all the domestic and international flights have been cancelled with effect from April 17.

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.

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The airline further said that "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," the airline said.

According to company, the decision to cancel all the domestic and international operations 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.

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The company said that it has tried "every means possible" to obtain an interim and long-term funding for the cash-strapped airline over the course of the last few months. 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.

 

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