Jet Airways extends suspension of international flights

posted on 16th April 2019 by Justin Burns

Struggling Jet Airways has extended its suspension of international services to Thursday (18 April) from the previous 15 April it had set as the future of the airline remains precarious.

There is now reportedly concerns around an interim debt facility and potential bidders for a controlling stake in the carrier. The Indian carrierhas issued no fresh news on the R15 billion ($215 million) interim loan facility announced on 25 March.

Reports claim that the cash-starved airline may be unable to sustain its reduced operations beyond the next week unless additional funding can be secured from an investor.

Jet Airways is now only operatng a fleet of seven aircraft on domestic flights. Earlier this year it had a fleet of 120 aircraft, but a number of lessors have taken aircraft back due to money owed.

The airline was taken over by the banks in March and an expression of interest process seeking proposals for a new investor to take a controlling stake in the airline was closed. Qualifying parties are expected to be announced soon. They will then have until 30 April to submit offers.