ADVERTISEMENT
Indian Government To Probe Jet As Airline Teeters: 10 Points
Jet Airways cancels west-bound flights from Thursday till Friday morning Government promises "necessary steps" to minimise passenger inconvenience Airline owes over Rs 3,500 crore to passengers due to cancellations
12 Apr 2019, 12:35 PM IST 
Mumbai-based Jet Airways is struggling to stay afloat with more than $1.2 billion of bank debt
- Mr Prabhu on Friday directed Civil Aviation Secretary Pradeep Singh Kharola to review issues concerning Jet Airways.
- "Directed Secretary MoCA to review issues related to Jet Airways. Asked him to take necessary steps to minimise passenger inconvenience and ensure their safety," Mr Prabhu tweeted in the morning.
- Jet Airways will operate only nine planes -- two Boeing 737s and seven regional Jet ATRs -- on Friday, news agency Press Trust of India reported citing industry sources.
- With the fresh groundings on Thursday, a calculation by Reuters pegs the size of Jet Airways' operational fleet at slightly over a dozen planes, down from over 120 aircraft last year.
- The airline now owes more than Rs 3,500 crore to passengers on account of flight cancellations alone, Press Trust of India reported citing sources.
- The Mumbai-based airline with more than $1.2 billion of bank debt, Jet Airways is fighting for survival as it also owes money to lessors, suppliers, pilots and oil companies.
- The suspension of international flights comes even as Jet Airways' lenders still try to seek expressions of interest in the debt-laden carrier from potential investors interested in turning around the airline.
- The group of Jet Airways' lenders, led by State Bank of India (SBI), have been seeking a new investor to take a stake of up to 75 per cent in the airline. Initial bids were to be submitted by the end of Wednesday, but SBI has extended the deadline to April 12.
- On Wednesday, Indian Oil Corporation halted the supply of fuel to Jet Airways for a few hours over non-payment of dues.
- Jet Airways shares rose as much as 1.2 per cent to Rs 263.50 on the BSE, outperforming the Sensex which was trading on a flat note.
(With agency inputs)
