Jet Airways` future hanging by a thread |
India`s first private airline Jet Airways is headed towards a total grounding and a decision could be taken as early as Tuesday after a meeting of its board of directors. All hopes of the carrier died after a failed meeting with the lenders` consortium, led by State Bank of India for the infusion of the emergency funds of 216.5 million dollars till the time any buyer is found. The Jet management met lenders on Monday with a fresh plan to request for the promised emergency infusion of funds, without which the airline will get completely grounded effective immediately. The airline`s pilots and other employees also gathered at Jet`s Mumbai headquarters yesterday. The airlines after stalling its international operations on thursday evening is down to just 6 flights on some domestic routes. Left with no cash, a seven-plane fleet and fuel to run operations only till Tuesday afternoon. If Jet goes down, it will be the second pan-Indian operator to go belly up after Kingfisher Airlines was grounded in 2013.
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