jet airways suspends all global flights

India’s Jet Airways has announced the “temporary” suspension of all domestic and international flights with immediate effect. The news was shared in a statement posted on the airline’s website on April 17. It reveals that the carrier was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they [the SBI] are unable to consider the airline’s request for “critical interim funding”.

The document continued: “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 [April 17].”

Prior to today’s developments, Jet had grounded more than two-thirds of its 119 aircraft, impacting tens of thousands of passengers around the world. Reports suggest Jet’s debt exceeds US$1bn, with the cash-strapped airline struggling to pay suppliers and employees in recent weeks.

Naresh Goyal, the founder and chairman of Jet Airways stepped down in late March amid increasing pressure for him to leave the firm as it sought the assistance of potential investors.

The airline says it will inform all affected guests “about the temporary suspension of flight operations via text message or email to the contact details listed in their bookings,” adding that “essential services needed to support guest services and the re-commencement of the flight operations will be kept onboard until further notice.”