Jet Airways fails to secure emergency funds
The future survival of Jet Airways looks even more precarious after its lenders refuse to inject interim funds.
In a letter, sent to staff just after the unsuccessful meeting with the banks, CEO Vinay Dube said management would now seek guidance from the Board about to how to proceed.
"The interim funding has not been forthcoming thus far, and as a result of this we have extended cancellation of international operations through Thursday, April 18," the letter said.
"Please note that the current status of our engagement with the lenders and other related matters shall be placed before the Board in the meeting scheduled for tomorrow morning, where the management will seek guidance from the Board on the next steps forward. We will keep you updated on all critical developments."
Jet Airways is now believed to be operating just seven aircraft, out of a previous 120.
All international flights have been suspended.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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