Jet Airways suspends all west bound worldwide flights

Daniel Fowler
April 12, 2019

As per rules, an airline needs to have minimum of 20 planes to operate global flights.

In additional changes to its global inventory, Jet Airways closed reservations for Chennai-Paris, Delhi-Amsterdam-Toronto, Delhi-Kathmandu, Delhi-Singapore, Mumbai-Colombo, Mumbai-Paris and Mumbai-Singapore, till April 12.

A senior executive of a public sector bank said the country's first sovereign wealth fund National Infrastructure Investment Fund (NIIF), as well as private equity firms TPG Capital and Indigo Partners, had expressed an interest in buying a stake in Jet.

"The Company is making all efforts to minimise disruption to its network due to the above and is proactively informing and re-accommodating its affected guests", the statement released by the company said.This comes after the Union Government said that Jet Airways' eligibility to fly on worldwide routes needs to be examined.

Debt-laden Jet Airways is now operating only 14 aircraft in its fleet and may soon lose the right to fly on worldwide routes, official sources had said earlier in the day. The airline was awarded routes such as Delhi-Bareilly, Delhi-Nashik, Indore-Hyderabad, Nagpur-Allahabad, Lucknow-Allahabad, Patna-Allahabad among various others but the airline's liquidity problems have forced it to operate on a skeletal schedule.

In an advisory posted on its Facebook page, Changi Airport said: "Jet Airways (9W) has suspended its services to and from Singapore until further notice".

A Jet Airways flight from Amsterdam to Mumbai was stopped from taking off at the Schiphol Airport by a European cargo company due to outstanding bills.

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Refunds are being processed, the airline added. Jet Airways on Thursday informed stock exchanges about the pledge.

Friday, April 12, is the last day to submit expression of interest.

The consortium of 26 lenders has appointed SBI Capital Markets Limited to advise it on the sale.

But it has been shrinking its global and domestic operations as its debts piled up.

Salaries to a section of the airline's staff, including pilots, engineers and general managers, have remained unpaid since January.

Jet Airways lenders, led by State Bank of India (SBI), had invited EoIs from potential bidders for buying a controlling stake of up to 75 per cent in the troubled airline.

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