(Image source from: Businesstoday.in)
Jet Airways Suspends Operations from Today:- As expected, Indian carrier airline Jet Airways could not stand in the race and decided to temporarily suspend all the domestic and International operations right from today. The last flight completed its journey last night. With most of the services stalled, Jet Airways has been running 35-40 flights from the past two weeks and is expecting huge funding from SBI and their consortium of Indian lending banks. With SBI issuing a clarification that it is unable to offer funds, Jet Airways decided to ground all its flights as they have no money to pay for the fuel and other basic expenses.
All those passengers who booked flights in advance will get their refund soon. Jet Airways wrote to the Prime Minister's office along with the Ministry of Civil Aviation and Finance Ministry that they would need immediate funds of Rs 400 crores. Jet Airways slots will be allotted for other airlines at the earliest and the Ministry is said to stage a meeting today. Jet Airways in a statement revealed that they would wait for the bidding process to be conducted by SBI.
Naresh Goyal's poor management left Jet Airways in huge debts commented many. He failed to attract investors and Jet Airways was always named as a costly airline which was not everyone's choice. Indigo, SpiceJet and GoAir brought enough dent.
(Video Source: The Economic Times)