Jet Suspends Ops, Last Flight From Amritsar To Mumbai Tonight | Read
The last Jet Airways flight will take off at 10:20 pm today as the crisis-hit airline suspends operations temporarily, failing to secure emergency funds from its lenders. The airline, saddled with more than Rs. 8,000 crore of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about Rs. 1,500 crore from its lenders, as part of a rescue deal agreed upon in late March. Today, Jet said that the lenders rejected its request for Rs. 900 crore while trying to identify an investor willing to acquire a majority stake in the airline and attempt to turn it around.
