Published on April 19th, 2019 | by William Charles11
Jet Airways Suspends All Operations (JetPrivilege Suspends Partner Redemptions)
Update 4/17/19: BBC is now reporting that all operations have been suspended. In recent days Jet Airways was down to operating only five aircraft. After being unable to meet a desirable outcome with lenders and authorities they have had no choice but to suspend operations.
Indian carrier Jet Airways has been forced to cancel all international flights, this is because the airline is currently only operating 14 aircraft and under Indian law this makes it ineligible to operate international flights. Under that law a minimum of 20 aircraft must be flying domestic before international flights are allowed. In December last year Jet Airways was operating 124 aircraft, but that number has significantly reduced as Jet Airways has been unable to meet it’s financial obligations resulting in defaults on loans and delayed rental payments among other issues including staff being laid off. Jet Airways is currently looking to secure additional funding, a stake of up to 75% is currently on offer and bidding is expected to end Friday (India time).