Jet To Suspend All Flights Tonight, Fails To Get Emergency Funds: Reports


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Jet To Suspend All Flights Tonight, Fails To Get Emergency Funds: Reports
Embattled carrier Jet Airways decided to temporarily suspend all operations from Wednesday night, said news agency Reuters citing sources. The move comes after lenders rejected Jet’s request for additional funds. The cash-strapped airline had requested emergency funds worth Rs. 400 crore from the State Bank of India-led consortium of lenders to stay afloat. With a debt more than Rs. 8,000 crore, the cash-strapped airline owes money to lessors, suppliers, pilots and oil companies.

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