Jet airways announces temporary suspension of flight operations
The airline will continue to support the bid process initiated by the lenders, and hopeful that it will be able to bring the Joy of Flying back to its guests as soon as possible.
After 25 years of sharing the Joy of Flying with Indian and international guests, Jet Airways has been forced to take this extreme measure as prolonged and sustained efforts with lenders and authorities did not yield the desired results.
Essential services needed to support guest services and the re-commencement of the flight operations will be kept on board until further notice. Jet Airways will now await the bid finalisation process by SBI and the consortium of Indian Lenders.
In its response to the airline, the lenders have said that the Expressions of Interest (EOI) have been received and bid documents have been issued to the eligible recipients today. The bid documents inter alia has solicited plans for a quick revival of the company. The bid process will conclude on 10th May 2019. They are actively working to try and ensure that the bid process leads to a viable solution for the company.
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 was operated yesterday.
This decision has been taken after a painstaking evaluation of all alternatives that were made available to the Company and after receiving guidance and advice on the same from its Board of Directors. Jet Airways has informed the DGCA, and the Ministries of Civil Aviation and Finance and other relevant government institutions, of this course of action.
Over the past 25 years, Jet Airways has established itself as India’s airline of choice and the flag-bearer of warm Indian hospitality around the world. The airline has proudly fuelled India’s economic engine, enabling business travellers and tourists alike to traverse the length and breadth of India and the world. Even during the toughest of times, Jet Airways employees have worn a smile on their face and put their duty to its guests and the nation first.
