Jet Airways has cancelled all its international flights to Europe and Asia according to reports, raising fresh concerns about the survival of the Indian carrier which has been battling to save its future in recent months.
This comes after airline had disclosed yesterday (11 April) that 10 more of its aircraft have been grounded due to lease payment defaults, taking to the number grounded for lease defaults to 80, out of a fleet of 120 that it started 2019 with.
In a statement yesterday, Singapore Changi Airport said Jet Airways had “suspended its services to and from Singapore until further notice”, while Heathrow Airport also said the carrier had stopped services to Mumbai and Delhi.
Reports also claim in India that Jet Airways, which is struggled financially and has huge debts of US$1 billion, has 40 aircraft in service but there are as few as 14 actually operating, all on domestic routes. In India, airlines must maintain a fleet of 20 to operate international flights.
Earlier this week, one of the airline’s Boeing 777-300ERs was seized in Amsterdam by cargo handler Worldwide Flight Services due to its failure to pay handling fees.
Until earlier this year when Jet Airways had to ground aircraft due to cash woes, it operated on 600 domestic and 380 international routes.
Jet Airways is seeking investment and a consortium of investors led by the State Bank of India (SBI) took control of the airline in March. The group is searching a new investor to acquire a stake of up to 75 per cent. The deadline for bids had been extended to Friday, according to reports.