Embattled Jet Airways halted all flight operations indefinitely on Wednesday aft...
MUMBAI/NEW DELHI - Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline.
“The airline has been left with no other choice today but to go ahead with a temporary suspension of flight operations,” the company said in a two-page statement late on Wednesday. “Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going,” the airline said.
Its lenders, led by State Bank of India , last week accepted expressions of interest for an up to 75 percent stake in the airline. It is still far from clear though, whether a firm bid will emerge and if a buyer will be identified in time.
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