Business News

Jet Airways suspends international operations until April 15; receives some more EoIs as deadline ends

Last Updated : Apr 12, 2019 09:47 PM IST | Source: Moneycontrol.com






There are no funds to continue the international operations, say company officials













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Distressed airline Jet Airways has suspended international operations until April 15, as a fund crunch continues to force the company to cut its operations.

However, sources confirmed the airline has received some more expression of interest (EoIs) before the deadline to participate in the bidding process ended at 6 pm today.

On April 11, the airline had curtailed international flights, including those to London and Amsterdam, saying the suspension will be effective until the morning of April 12.

But officials said there were no more funds to continue the international flights.

The development comes even as senior Jet officials are to brief officials at Ministry of Civil Aviation. The company officials have also been in talks with their lenders, raising hopes that the banks would transfer funds to the airline.

While the banks had promised Rs 1,500 crore in emergency funding, only about Rs 250 crore has been transferred so far.

Apart from international flights, Jet’s domestic operations have also been severely impacted.

Hundreds of its employees gathered at the airline’s headquarters on Friday afternoon, asking for clarity on the salary dues. Jet had deferred March salary payments to all its employees. Its senior management, pilots and engineers haven’t been paid since January.

Sources added the banks may transfer just enough funds to pay the ground staff.

Meanwhile, Jet employees, including pilots, engineers and cabin crew, plan to have a ‘Save Jet Airways Human Chain’ at Terminal 3 of Delhi airport. This will be done for an hour from 3.30pm.



First Published on Apr 12, 2019 05:50 pm



































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Prakash Poojary
Business Analyst

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