Saddled with a debt of about Rs 80.52 billion ($1.14 billion) as of September. 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch. The airline has a market capitalisation of Rs 28.81 billion as of Friday's close.
Here's how Jet has fared:
May 3 - Jet shares fall 12.3 percent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier
May 23 - Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that 'may create uncertainties'
Augustust 1 - Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure
August 3 - Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale
August 9 - Airline defers board meet for first-quarter results
August 13 - Airline reaffirms that it is considering various options to meet its funding requirements
August 27 - Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years
September 4 - Government plans relief package for airlines
September 6 - Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned 'non-cooperation' over salary default
September 20 - Income Tax department conducts survey at Jet's premises
• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure
October 4 - Rating agency ICRA downgrades the company's long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives
October 18 - Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report "speculative"
November 5 - Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways' 24 percent stake, and merge Jet with Vistara
November 13 - Tata Sons begins due diligence to buy Jet, reports say
Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline
November 15 - Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet
November 16 - Tata Sons says discussions on Jet is preliminary and no proposal has been made
November 20 - Tata Sons may go slow on Jet deal after some directors from Tata's board expressed concerns, according to media reports
November 22 - Independent director RanJanuary Mathai resigns, citing rising pressure from other commitments
November 26 - Report says Naresh Goyal may hand over Jet Airways ops to Etihad Airways
December 3 - Jet says it will stop providing free meals to most domestic economy class passengers from Januaryuary, in its latest move to cut costs and boost revenues
December 5 - Jet and Etihad Airways have been holding rescue talks with Jet's bankers, sources tell Reuters
December 6 - Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters
December 14 - Goyal's penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters
January 10 - Jet proposes to creditors that it will catch up with debt payments in arrears by Septemberember and from April will meet debt payments as they come due, according to a document seen by Reuters
January 11 - Crisis talks between Jet and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter tell Reuters. Etihad is not "in any position to sink new equity into Jet at this juncture," says a person familiar with Etihad's position.