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Jet Airways, the second largest Indian airline after Indigo, recently announced its intention to temporarily suspend operations after failing to secure emergency funding.
On April 17, Jet Airways posted a statement on its website describing the news, in which it explains its inability to obtain funds from the State Bank of India (SBI). Subsequently, the airline stopped operations under what had been termed a temporary relocation because it could not pay for fuel and essential flight services.
Despite the admission that it was impossible for them to raise funds for air operations, Jet Airways insists that they analyzed and researched each option before coming to this conclusion, which of the three is the most difficult for passengers and employees.
In response to this situation, the SBI and lenders are continuing their efforts to find new shareholders for the airline. This will end on May 10 and is the last major resort for the airline.
Photo above: BriYYZ
In the months leading up to this news, Jet Airways has been very popular in the media, with donors scrambling to unregister aircraft and send them for storage. What started small with the Boeing 737s has finally grown as more vehicles of this type were immobilized due to lease defaults, a Boeing 777-300ER was seized in Amsterdam and ATR 72-500 regional offices were removed from the registration.
In closing the letter, Jet Airways said, "Hope she will be able to bring back the joy of flying to her customers as soon as possible.
For those caught in the breakup, the best option is to contact your bank or air center, as Jet Airways will probably have no staff available to respond to refund requests.
Employees of the company, stakeholders and passengers who stuck with the airline during the difficult times were thanked in profusion, as indicated in the last paragraph of the letter.
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