MUMBAI: Jet AirwaysNSE -26.26 %, India’s oldest private airline, decided to temporarily 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 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 said in a statement.
