Jet Airways has suspended all worldwide flights because the disaster on the Indian service deepens.
Considerations over the way forward for the airline had been heightened earlier this month when founder, Naresh Goyal, stepped apart, handing management of the operation to collectors.
Jet, the biggest non-public airline in India, is saddled with greater than $1 billion of debt and is looking for a monetary lifeline to keep away from collapse.
Worldwide flights scheduled to depart at the moment from Delhi to Singapore, London, Amsterdam and Kathmandu have all been cancelled.
The information comes after Jet grounded ten extra planes earlier this week over unpaid charges to leasing corporations.
There are studies the service is now working simply 14 planes.
In response, the Indian authorities stated steps had been being taken to make sure passenger security.
Carriers in India should keep a fleet of least 20 plane to proceed to function worldwide companies.
The airline has greater than 100 plane in its fleet, and flies on 600 home and 380 worldwide routes.
Jet Airways owes cash to workers and suppliers and in current weeks it has grounded plane and cancelled 1000’s of flights as its monetary strains worsened.
In March, when the disaster at Jet Airways led to 1000’s of flights getting cancelled, the Indian authorities stepped in and requested public sector banks to rescue the non-public service.
With India holding a nationwide election, prime minister Narendra Modi was unwilling to see the service go bust with the potential lack of 23,000 jobs.
The lenders which took management of the airline promised to supply a lifeline till a brand new investor got here on board.
However regardless of that assurance, the state of affairs seems to have continued to deteriorate.