Cash-strapped Jet Airways cancels all global flights

Jet Airways cancels all international flights for Thursday night three domestic flights for Friday

The airline is also cancelling more domestic flights, raising doubts about its survival over the next few days even as the stake sale process continues.

For the world's fastest growing aviation market that clocked consistent double-digit growth in domestic air passenger traffic on a monthly basis for the last four-and-a-half years, winding down of operations India's oldest private airline has hurt the growth as one in six aircraft have gone out of Indian skies over the past few months.

An agency report quoting a source said, "Jet Airways flights to London, Amsterdam and Paris from Mumbai, New Delhi and Bengaluru scheduled for April 12 are cancelled for operational reasons".

But the Mumbai-based airline is now operating just 14 aircraft - and it could lead to the suspension of its global operations, according to Indian news agency IANS.

Former Jet Airways chairman Naresh Goyal is also expected to submit initial bids for a stake in the airline, sources said.

It owes various lenders 8,000 crore rupees (S$1.6 billion).

A consortium of investors led by the State Bank of India (SBI) took control of the airline in March.

Earlier on Thursday, the airline told the exchanges that it had grounded 10 more aircraft.

When contacted, Jet Airways said that the airline was now focusing on accommodating its passengers on other flights and ensuring their inconvenience was reduced.

"Similarly, 9W 676 from Dehradun to Kolkata via Guwahati has also been cancelled until further notice", Jet said in a statement, adding refunds are being processed.

The Indian government are investigating and watching Jet Airways' operational situation to ensure the airline complies with overseas flying rules, IANS reported.

Earlier, in the day the aviation secretary Pradeep Singh Kharola told PTI that the ministry was awaiting a report from the DGCA to decide whether Jet can continue to fly on global routes.

Of the 14 aircraft that it is operated till Thursday evening, eight were wide-body B777s (seven) and an A330- generally used for long-haul worldwide operations. You can check here if your flight on April 12 or 13 has been cancelled. A regulatory filing says Goyal has pledged 26 per cent stake in the ailing airline as security for loans from Punjab National Bank.

According to reports, Jet Airways also cancelled long-haul West-bound worldwide departures from Thursday night to Friday morning.

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