Jet Airways to suspend operations from today amid lack of funds

Jet Airways

Among the other things discussed were the steadily increasing fares on other airlines and flight cancellations with Jet Airways steadily reducing its operations. The email said: "As you are aware, we have been working with the lenders to secure interim funding for our operations. It is our earnest endeavour to keep all lines of communication open with you, such that you continue to be updated on all critical developments", Vinay Dube had said in the letter.

Earlier in the day, senior government officials who declined to be identified said that funds will be made available to the airline and that there was no question of the airline taking the NCLT route.

"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". According to Kharola, the airline operated with five aircraft on Tuesday.

The SBI is yet to announce a shortlist of prospective bidders but Indian media said four were in the running including Etihad Airways, which already owns a 24 percent stake.

Jet and its lead lender State Bank of India (SBI) did not immediately respond to requests for comment. In absence of slots and these aircraft, which are the key assets for an airline, it will be hard to sustain the interest of a buyer, industry experts said.

Once deregistered, lessors are free to reclaim a plane and lease it to another airline. However, its efforts have borne no fruit, forcing the airline to go ahead with a temporary suspension of flight operations. As per the report, Jet's last flight will take to the skies at 10.30 PM today.

At least 2 killed in aircraft collision in Nepal’s Lukla airport
Seven people, including the country's tourism minister, were killed in February when a helicopter crashed in the hilly east. But the airport has been dubbed one of the world's most unsafe because of the short runway and hard approach.

Jet will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered. Sad that so many Airlines have bitten the dust in India.

Earlier this month, the airline's fleet was significantly reduced to just five aircraft and forced to suspend global operations.

Mumbai: With the lenders rejecting a lifeline of Rs 400 crore Wednesday Jet Airways, which has been on a wing and prayer since January, informed exchanges that it is forced to cancel all operations temporarily. Now with all operations likely to shut down, you will have zero market share.

The agony of Jet Airways might soon be over. There is nothing left in Jet Airways.

"I am willing to pay either way whether I am in London or in an Indian Jail. The chances of revival seem very remote now".

Related News:

  • FBI looks for woman ‘infatuated’ with Columbine shooting

    FBI looks for woman ‘infatuated’ with Columbine shooting

    The Miami Herald and WTVJ are reporting that neighbours say the teen is a senior at Miami Beach High School. In December, an anonymous caller claimed bombs had been planted inside Columbine high school.
    Game Preview: Pacers at Celtics (Game 2)

    Game Preview: Pacers at Celtics (Game 2)

    The Boston Celtics have won four of their last seven home games. "And it just doesn't have to be on the offensive end". The Boston Celtics are averaging 84 points on 36.4 percent shooting and allowing 74 points on 33.3 percent shooting.
    Mobile Pixel 3 launch tipped for spring confusion

    Mobile Pixel 3 launch tipped for spring confusion

    It will reportedly ship with a Qualcomm Snapdragon 710 processor and likely match other features you'd find in the Pixel 3a. Google Pixel 3a and Pixel 3a XLwere recently leaked with the codenames "sargo" and "bonito" respectively.
  • Woods draws TV crowd, despite early Masters start

    Woods draws TV crowd, despite early Masters start

    Woods' fifth Masters win was his first at the iconic Georgia course since 2005. "It was just great to see". A bettor who risked $85,000 on Tiger Woods winning the Masters is now more than a million dollars richer.
    Trump spends America's tax filing day in Minnesota

    Trump spends America's tax filing day in Minnesota

    And the President celebrated the resurgent iron ore industry in northern Minnesota, recalling a crying worker who thanked him. Expand the earned income tax credit and the Child and Dependent Care Tax Credit, which offers a tax break for child care.
    Alexandria Ocasio-Cortez: 'I Support Impeaching This President'

    Alexandria Ocasio-Cortez: 'I Support Impeaching This President'

    Analysts have also pointed to Netanyahu's embrace of Trump as leading to a polarization of backing for Israel in Congress. She said: 'I can compare my liberal credentials across the board.
  • Seahawks 2019 Schedule To Be Announced Wednesday, April 17

    Seahawks 2019 Schedule To Be Announced Wednesday, April 17

    The matchup marks the first time the Texans will play in the U.K.in franchise history. The complete slate includes three divisional games and five playoff participants.
    Kevin Harvick Captures Richmond Pole

    Kevin Harvick Captures Richmond Pole

    They include the cars of local favorite Denny Hamlin, a three-time victor on the 0.75-mile oval, Chase Elliott and Matt Tifft . They were those of seven-time series champion Jimmie Johnson , Aric Almirola , Erik Jones , Daniel Suarez and Joey Gase .
    Honor 20 series to be announced on May 21

    Honor 20 series to be announced on May 21

    This first handset will be based around Kirin 710 and have a 6.2-inch display and triple camera with 24-megapixel main camera. The Honor 20 series is likely going to include three phones which are the Honor 20 Lite , Honor 20 and Honor 20 Pro .
  • Donors Pledge Some $790Mln to Restore Iconic Notre Dame After Devastating Blaze

    Donors Pledge Some $790Mln to Restore Iconic Notre Dame After Devastating Blaze

    Parisian Beatrice Champetier arrived to lay flowers - it was the least she could do, she said, for a building that "is our life". Though "some weaknesses" in the 850-year-old structure had been identified, overall it is "holding up OK", he added.
    Zidane says Madrid set to make changes after poor season

    Zidane says Madrid set to make changes after poor season

    Leganes , 11th in the table, went close to winning the game but Youssef En-Nesyri had a goal correctly disallowed for offside. He took his La Liga tally to 18 goals against Leganes and Carvajal hailed him as Madrid's player of the season.
    A new Lego Star Wars game is reportedly on the way

    A new Lego Star Wars game is reportedly on the way

    Over the course of my time at EA, we were back and forth on what the overall publishing corporation wanted. This is according to Press Start who spoke to Respawn recently about Star Wars Jedi: Fallen Order .


Most liked

Vietnamese woman in DPRK man's murder case to be freed in May
South Korea: Why has the peninsula been divided? At the time, National Intelligence Service Chief Suh Hoon also visited the North.

Thomas signs with Patriots
After Week 8 last season, the Broncos traded Thomas to the Houston Texans in exchange for a fourth-round draft pick. Thomas agreed to a one-year deal with the Patriots worth up to $6 million, NFL.com reports .

Jet Airways pilots protest as airline grounds all worldwide flights
Jet Airways aircrafts are seen parked at Chhatrapati Shivaji Maharaj International Airport in Mumbai , Monday, April 15, 2019. Goyal quit as chairman of the carrier last month under a debt resolution plan that saw lenders taking control of the airline.

Intel exits 5G smartphone modem business in wake of Apple/Qualcomm settlement
Smartphone maker Apple and chipset manufacturer Qualcomm has announced that the companies are settling their lawsuits . Apple gets to break its dependence on a single chip maker and Qualcomm gets to do business with a large customer.

Indian government wants Apple to boot TikTok out of the App Store
The case is up for hearing in the Madras High Court, after which the SC will decide on its fate on 22nd April. The bench said the high court is already seized of the matter and the ban order was just an interim order.

Price hikes, new rivals cloud Netflix outlook
Netflix's results come after it announced a $2 price increase to $13 a month for United States subscribers , its largest audience. And the reason for doing so is easily found on the streaming giant's investor relations page under the financial reports section.

Guardiola says he's a 'failure' in Champions League
I did not come here to win the Champions League, honestly ", he said. "We didn't say, Bobby plays against Jorginho, for example". I know at Bayern Munich, we won absolutely everything except the Champions League and it was a big failure.

Bernie Sanders' wealth tax won't pay for free medicare, tuition: Morici
Warren released 10 years of her tax returns last year and followed with an 11th year of released returns last week. And here's the senator's 2017 return.

Measles cases in Detroit area linked to haredi traveler rise to 39
With data gathered from 170 countries, the report says there have been 112,163 cases of measles reported so far in 2019. The CDC recommends MMR (measles, mumps , and rubella) vaccinations for children, starting at 12 months of age.

Western Conference first-round matchups by the numbers
LeBron James nearly got into the club past year , coming as close as humanly possible - he scored 2,999 points for Cleveland. After going toe-to-toe with James in the 2017 and 2018 playoffs, the top spot could be his with another big postseason.

IOS 13 will bring a huge dark mode update to iPhone
There will be a lot of iPad-specific changes in iOS 13, including the ability for apps to have multiple windows. The clunky iOS undo function, which until now has involved shaking the device , may be usurped by a gesture.

Scientists Print World's First 3D Heart
To do this, they separated the cellular material from the tissues and reprogrammed it to become pluripotent stem cells. A 3D-printed, small-scaled human heart engineered from the patient's own materials and cells.

Rep. Ilhan Omar Sees Spike in Death Threats After Trump 9/11 Attack
Critics accuse Omar of offering a flippant description of the assailants behind the attack that killed almost 3,000 people. Amy Klobuchar - a 2020 Democratic presidential candidate - said she was "appalled" by the video Trump posted .

Ben Simmons softens stance on booing Philadelphia fans
Things couldn't have gone much worse for the Sixers , who couldn't quiet Brooklyn's guards or their own fans. Harris was fouled taking a three and then Russell committed a clear-path foul on him.

Emery urges Ramsey to make a major impact for Arsenal before leaving
Javi Gracia insists Troy Deeney's elbow did not merit a red card against Arsenal in Watford's 1-0 defeat at Vicarage Road . It was an important game for us, he knew it.