Jet Airways temporarily suspends all flights

CANCEL Flights stopped by Jet Airways

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.

Jet Airways CEO Vinay Dube, in an internal communication to employees on Monday, said, "Have been working with lenders to secure interim funding for operations. Why?" Mallya said in a tweet.

"We continue to work with Jet management, lenders and key stakeholders in the context of the lender-managed effort to restructure the company".

India's aviation secretary told media late on Tuesday that Jet had only five aircraft flying on the day and that 90 percent of its slots stood vacant.

The cash-strapped airlines Tuesday said it is awaiting "emergency liquidity support" from the SBI-led consortium of lenders to arrest the further deterioration in its services.

"I repeat once again that I have placed liquid assets before the Hon'ble Karnataka High Court to pay off the PSU Banks and all other creditors".

Union Aviation Minister Suresh Prabhu has called for a review of issues related to the crisis-hit airline.

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"In the said communication, we have highlighted the specific areas that will be immediately impacted, should the funding not be forthcoming".

Jet is the second-largest carrier in the country by passengers served, and has been racking up debt for months.

"Even though Jet was a major competitor to Kingfisher at the time I feel sorry to see such a large private airline on the brink of failure when Government used 35K crores of public funds to bail out Air India".

Indian airline Jet Airways will "temporarily" halt all domestic and worldwide flights after failing to find emergency funds to keep it afloat. The Guild also postponed their scheduled strike over the non-payment of salaries. More than two dozen Jet-operated planes have been de-registered this month, and Jet has been forced to ground dozens more over unpaid dues.

India's embattled Jet Airways Ltd is set to temporarily halt operations from Wednesday onward after its lenders rejected the airline's plea for emergency funds, three sources from inside the company said on Wednesday.

Intense competition from low-priced carriers, like Interglobe-owned IndiGo and SpiceJet Ltd, together with higher oil prices, hefty fuel taxes and a weak rupee have piled pressure on the airline in recent months.

The company said it could not pay for fuel or other critical services and that the last flight will land Wednesday.

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