Jet Airways Cancels All Overseas Flights Till Friday Morning: 10 Points

Relief for Jet Airways! There are parties interested in buying stake after all

But the Mumbai-based airline is now operating just 14 aircraft - and it could lead to the suspension of its global operations, according to Indian news agency IANS.

Abu Dhabi-based Etihad Airways has submitted an expression of interest (EoI) to buy a stake in Jet Airways within weeks of wanting to exit the venture completely. In addition to this, a number of Jet's domestic flights were also cancelled.

Speaking on the recent Jet Airways crisis, Civil Aviation Secretary Pradeep Singh Kharola said, "It (Jet Airways) is now operating less than 15 planes and its eligibility to fly on global routes needs to be examined".

Etihad Airways already holds 24 percent stake in the airline, and may look to take its holding up to 49 percent, the sources told CNBC-TV18.

It has put between 31 per cent and up to 75 per cent in the airline for investors. However, when contacted, a spokesperson of the carrier said it does not comment on speculation. While the airline said the cancellations were for a day, indications are that the flights may remain grounded unless there's an emergency fund infusion. A regulatory filing says Goyal has pledged 26 per cent stake in the ailing airline as security for loans from Punjab National Bank. "Jet Airways had proactively cancelled all west-bound long haul flights from India from Thursday until Friday morning", reported news agency Reuters quoting a company spokesman.

Of these 117 planes, 105 were operated by Jet Airways and are now grounded due to non-payment of dues to lessors, while 12 belonging to SpiceJet are non-operational due to safety issues with the Boeing 737 MAX aircraft. The groundings have affected its services to and from the East and Northeast. As per flight schedules checked by TNM, these are flights from Bengaluru to Thiruvananthapuram, Delhi, Mumbai, Chennai and Hyderabad.

Out of a strength of about 670 planes, India has lost 117 airliners in recent months Jet's flights to destinations such as Amsterdam, London, Paris, Singapore, Bangkok were cancelled on Thursday and Friday.

Jet did not mention in its statement whether it was in discussions with the lessors on the present situation.

Meanwhile, PTI quoting aviation secretary Pradeep Singh Kharola said the ministry may review Jet's eligibility to continue its global operations after it gets a report from the regulator.



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