Hours after cash-starved Jet Airways announced the suspension of operations, the Ministry of Civil Aviation (MoCA) said Wednesday it will support the resolution process within the existing regulatory framework.
In its first reaction on the latest Jet Airways development, the ministry also said that the DGCA and other regulators are monitoring the situation carefully to ensure that all existing rules regarding refunds, cancellations, and alternate bookings are followed strictly.
Jet Airways, which flew just five planes on Tuesday, has decided to suspend operations in the night after lenders decided not to extend emergency funds.
In a series of tweets, the ministry said the airline has informed it about temporarily ceasing operations.
