Jet Airways grounds operations after 25 years of flying

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Jet Airways on Wednesday night ended its operations after the lenders rejected its appeal for additional funding to stay afloat. The last flight of Jet Airways will take off at 10.30 pm today. It’s, however, not clear whether the airline’s decision shut operations is temporary.

Jet Airways

A high-ranking official working with Jet Airways confirmed the news saying that ‘we will be grounded for good from tonight.’ “It’s a sad news for all of us. That’s all I can say,” the official told Janta Ka Reporter requesting anonymity.

Hours later, a tweet by Jet Airways confirmed Janta Ka Reporter story as it said, “With deep sadness and a heavy heart we would like to share that, effective immediately, we will be suspending all our domestic and international flight operations.”

Jet Airways had requested its lenders for aditional Rs 400 crore but it was rejected. The government too has refused to intervene in the crisis plaguing one of India’s most reputed private carriers.

Billionair businessman Vijay Mallya, whose Kingfisher Airlines was a big competitor for Jet Airways before it too went bust, took to Twitter to express his sympathy for Naresh Goyal, the airline’s founder. He wrote, ‘Even though Jet was a major competitor to Kingfisher at the time I feel sorry to see such a large private airline on the brink of failure when Government used 35K crores of public funds to bail out Air India. Just being a PSU is no excuse for discrimination.”

His subsequent tweet read, “Even though we were fierce competitors, my sympathies go out to Naresh and Neeta Goyal who built Jet Airways that India should be extremely proud of. Fine Airline providing vital connectivity and class service. Sad that so many Airlines have bitten the dust in India. Why?”



 

Here’s the full statement from the Jet Airways CEO:

It is with deep sadness and with a heavy heart that we would like to share with you that, effective immediately, Jet Airways will be suspending all its domestic and international operations.

Late last night we were informed by SBI, on behalf of the consortium of Indian lenders, that they are unable to consider our request for interim funding. Since no emergency funding from the lenders or any other source of funding was forthcoming, it would therefore not have been possible for us to pay for fuel or other critical services to keep the operations going.

Consequently, with immediate effect we are compelled to cancel all our domestic and international flights. This decision has been taken after painstaking evaluation of all alternatives and after receiving guidance and advice on the same from the Board of Directors of Jet Airways.

Over the last several weeks and months we have tried every means possible to seek funding, both interim as well as long term funding, to keep our operations going. Unfortunately, despite the very best of our efforts, we have been left with no other choice today.

A decision like this is never easy to make, but without the interim funding, which we have been repeatedly requesting for, we are simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of our guests, employees, partners and service providers.

After 25 years of sharing the Joy of Flying with Indian and International guests, Jet Airways and its Board of Directors have been forced to take this extreme measure, as prolonged and sustained efforts with lenders and authorities to ensure the sustainability of the airline did not yield the desired results.

But, tomorrow is another day and tomorrow provides us with new hope, new opportunity and new expectations. We know that India is better off with a flying Jet Airways, and so do our potential investors. With a smile on our face and pride in our hearts, we have become the flag-bearer of warm Indian hospitality the world over. We have fueled India’s economic engine enabling business travelers and tourists alike to traverse the world. Families and businesses have grown with Jet Airways and have come to love our people as much as our brand. Even in the toughest of times, we remain committed to putting you first and being committed to our Guest First philosophy.

We will now await the bid finalisation process by SBI and the consortium of Indian Lenders and will continue to support the bid process initiated by the lenders.

For assistance, essential services needed to support our guests and the re-commencement of the flight operations will be kept onboard until further notice.

Guests who are booked on our flights with travel on future dates will be informed via text message email or phone call to the contact details listed in the booking. Guests who are impacted by the temporary suspension of flight operations can click here to request for a refund for their confirmed bookings. In case you have booked through a travel agent, please reach out to your travel agent to process the refund.

We sincerely and profusely apologise for the disruption to your travel plans. We would like to thank you for your continued patronage, support and loyalty over the years.

We are hopeful that we will be able to bring the Joy of Flying back to you soon.

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