The Airways is said to have $1.2 billion in dept and are even looking for where to lend some cash to pay up.
According to reports, pilots, engineers and also the staff on ground have not been paid for months. In a report by the airlines they that “Late last night, Jet Airways was informed by the State Bank of India (SBI), on behalf of the consortium of Indian lenders, that they are unable to consider its request for critical interim funding.”
They wentmon to say that “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. Consequently, with immediate effect, Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today
The airline has high hopes of a bounce back and said that they are hopeful that it wil be able to bring the joy of flying back to its guests as soon as possible.
Jet Airways have been successful in carrying out 600 domestic flights with 380 internationals, they said their downfall was as a result of the introduction of low-cost flighs like indiGo and SpiceJet.
But for now the Airline is on a hold till further notice.