Now on the brink of bankruptcy, the Indian airline has cancelled all of its international and domestic flights.
Indian airline Jet Airways has announced that it will stop all domestic and international flights in light of its financial woes.
Plagued by a US$1.2 billion debt, the troubled airline had requested 4 billion rupees from state-run banks while it sought an investor to acquire a majority stake in it.
It said in a statement: â€śSince no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going.
â€śConsequently, with immediate effect, Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today.â€ť
Meanwhile, the airline will await a bid finalization process on May 10, which it hopes will lead â€śto a viable solution for the company.â€ť
The airline has apologized for the disruption and said that passengers with flights booked would be contacted via text or email.
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