MUMBAI: Jet AirwaysNSE -26.24 %, India’s oldest private airline, decided to suspend all flights from Wednesday night as cash ran out and banks refused to give more money. It became the second major airline to shut down operations, even temporarily, this decade after Kingfisher in 2012.
“Since no emergency funding from 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 is compelled to cancel all international and domestic flights,” the airline said in a statement. Its last flight was from Amritsar to Mumbai on Wednesday night.
