The private airliner in the country Jet Airways has decided to temporarily suspend its operations. Jet Airways will suspend all its operation by today10.30 pm. The airlines made an official announcement that it is forced to cancel all operations after banks deny emergency funds and will operate last flight on Wednesday. Jet Airways was operating just six planes as of Tuesday (April 16).
The airline, that once operated around 120 aircraft, is now left with just 16 planes in its fleet. It owes over Rs 8,000 crore to a consortium of lenders led by the state-run State Bank of India (SBI). Jet Airways’ founder chairman Naresh Goyal has already withdrawn from making a bid for a stake in the company.
Jet will be the seventh airline to go down since May 2014 and the 13th one after East West was shuttered. During the past five years, airlines like Air Pegasus, Air Costa, Air Carnival, Air Deccan, Air Odisha and Zoom Air have all gone belly up even as the government boasts of double-digit growth for more than four years in tow.