Jet Airways investigated over alleged misuse of funds
The problems are stacking up for troubled Indian carrier Jet Airways.
The corporate affairs ministry is looking at allegations the airline has been siphoning off funds.
A senior government official said the investigation is at ‘a crucial stage’.
News of the probe sent Jet’s share price sliding again.
The Mumbai Registrar of Companies is apparently inspecting Jet’s accounts for misuse of loans secured for airline operations.
However the airline said it ‘has not received any communication from the ministry of corporate affairs in this regard’.
The probe likely relates to the airline recently delaying publication of its quarterly result after auditors refused to sign it off due to irregularities.
This latest upheaval comes at a particularly bad time as private equity firm TPG Capital was revealed as the latest potential investor, and is reportedly mulling buying a $100 million stake in the airline’s frequent-flyer loyalty programme, Jet Privilege.
Jet Airways has already held discussions with Blackstone Group over selling a stake in Jet Privilege.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season