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Jet Airways Crisis Explained In 10 Points

Thursday, April 18, 2019, 7:32 AM

Jet Airways, cash-starved Indian carrier, has suspended all operations from Wednesday night after the State Bank of India-led consortium of lenders turned down its request for emergency funds. The airline, founded by Naresh Goyal, was under Rs.8,000-crore debt and was struggling to stay afloat. Until recently, the airline was second largest carrier in India by market share. So where did it all go wrong?
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Jet Suspends Ops, Last Flight From Amritsar To Mumbai Tonight

Thursday, April 18, 2019, 7:31 AM

The last Jet Airways flight will take-off at 10:20-pm as the crisis-hit airline suspends operations temporarily, failing to secure emergency funds from its lenders. The airline, saddled with more than Rs.8,000-crore of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about Rs.1,500-crore from its lenders, as part of a rescue deal agreed upon in late March.
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Jet Airways To Suspend All Flights Tonight, Say Reports

Thursday, April 18, 2019, 7:30 AM

Jet Airways decided to temporarily suspend all operations, according to news-agency. The move comes after lenders rejected its request for additional funds. The airline was able to fly only five aircraft on Tuesday, the bare minimum required according to the rules of the Directorate General of Civil Aviation and conditions of AOP, the document that permits a commercial airline to operate across the country.

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