Embattled carrier Jet Airways, which is India’s oldest surviving private airline, and was once the nation’s largest, has decided to temporarily suspend all flights from tonight, with no cash to run operations any further. The once king of the skies will fly its final flight at 10.30 pm. The move comes after lenders rejected Jet’s request for additional funds. The cash strapped airline had requested emergency funds of 400 crore ₹ from an SBI led consortium of lenders to stay afloat. However, this was rejected as Jet did not offer any collateral for the funds. With a debt of more than 8,000 crore ₹, the debt laden airline owes money to lessors, suppliers, pilots and oil companies. We walk you through the details of Jets failure. #JetAirways #NareshGoyal #SBI
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
