On April 17 2019, while the World was celebrating Mahavir Jayanti, Jet sank slowly and surely while many capable of doing something idly watched from sidelines and a few gleefully tried to exploit the opportunity. The misery of the employees and passengers were left to themselves to endure. The day will be marked as a dark day in Indian Aviation when it had to bear a massive blow.
It’s unclear whether the airline will ever operate, but if it does so, it will be under a new owner. This, at the moment, seems highly unlikely as lenders themselves are reluctant to put more money and they scurry to find a willing investor with deep pockets to pour new money into the airline.Continue Reading
India’s oldest private airline Jet Airways, which is operating on a skeletal schedule with just five aircraft due to its critical liquidity position, Tuesday said it is talking to its lenders for emergency funding to “arrest further deterioration of its services”. Civil Aviation Secretary Pradeep Singh Kharola, who reviewed the situation, said the airline has […]Continue Reading
NEW DELHI — Lenders to Jet Airways are discussing ways to revive the crisis-hit carrier and fresh funds are likely to be infused shortly, officials said on Tuesday. Amid acute financial crunch crippling its operations, Jet Airways management is awaiting clarity on receiving fresh funds after which a decision would be taken on continuing operations. […]Continue Reading
Lenders to the crisis ridden Jet Airways India Ltd. did not see any reason to infuse more money, they finally refused to bail out the cash-strapped carrier. The bankers have confirmed that there’s no money coming in for now. Though the matter has not yet officially been disclosed, the signs are clearly visible.Continue Reading
Normally, airlines in India compete fiercely with each other to sell tickets in advance and fill seats during the peak summer travel season. This, to a large extent, also takes care of their working capital requirements. But airline operators in India are presently facing a different problem: scarce planes and booming demand. Moreover, the grounding […]Continue Reading