International operations stopped for Jet Airways |
Deepening the crisis for the Cash-starved Jet Airways, the career cancelled all international flights for Thursday night and Friday morning, as it operated just 14 aircraft during the day — the smallest fleet among scheduled domestic carriers. The minimum strength needed for any career to fly abroad is 20 and as the Jet fleet depleted to just 14, the chances are bleak. The aviation ministry had earlier said it would review Jet`s eligibility to fly abroad in case its fleet strength fell below the minimum number needed to be eligible to fly abroad. The carrier cannot even afford to refuel wide-body planes and meet other expenses, of maintaining foreign flights in absence of the promised 216 million dollar, emergency funding from its lenders, in the absence of which, its endgame for the airline, as it can shut down completely in just a matter of days. Meanwhile the Banks, on their part, are learnt to be acting cautious about putting in public money in Jet. They are waiting for some serious player to show interest in buying stake in the airline, only then they will pump in funds to keep it alive during the transition period. In absence of this their exposure to Jet will only mount.
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