Jet Airways has announced temporary suspension of all its flight operations after being informed this week by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they are unable to grant its request for critical interim funding.

With no emergency funding from the lenders, the airline does not have the capacity to pay for fuel or other critical services to keep the operations going.

Jet Airways, which has 123 planes, operated its last flight yesterday and was once India’s biggest private airline. The carrier operated 600 domestic and 380 international routes, including out of London, Paris and Amsterdam.

Over the last weeks and months, the company has tried to seek both interim and long-term funding, however there has been no success and now the banks are seeking a bidder for the airline.

The company will now await the bid finalisation process, which will conclude on 10th May 2019.

Jet Airways has sincerely and profusely apologised for the disruption to the travel plans of all its guests and stated that they are hopeful they will be able to bring the joy of flying back to its guests as soon as possible.

Leighton Bonnet – Uniserve Group Airfreight Director – commented “The removal of this capacity from the market, coupled with the continued closure of Pakistan air space, leaves the India market unsettled with backlogs in some origins and rising prices generally.  We continue to do everything we can to minimise the impact of these challenges to our customers.”

Uniserve are the UK’s leading independent logistics provider, to find out more about how Uniserve can add leverage to your supply chain, then please call 01375 856060 or email info@ugroup.co.uk.

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