New Delhi: Distressed airline Jet Airways (India) Ltd. said on Wednesday it is compelled to cancel all its international and domestic flights with immediate effect as it has not received emergency funding from lenders or any other source. The last flight will operate today.
In a statement to stock exchanges, Jet said the company was not able to pay for fuel or other critical services to keep the operations flowing.
“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. 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,” India’s second largest airline said.
