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Jet says international ops to remain grounded till Apr 18

Press Trust of India  |  Mumbai 

Monday said its services on overseas routes will remain grounded until April 18, even as the lenders failed to take a call on extending an emergency funding to the

In an internal communication, Vinay Dube also said the airline's board will meet Tuesday to discuss the next step for the carrier.

This is the third time that has extended suspension of these flights, which was first announced for last Thursday.

"We have extended cancellation of international operations through Thursday, April 19," chief executive said in a communication. But it later clarified that the extension was to run through April 18.

Dube said the decision was taken following the non- receipt of funds from its lenders, who have now management control of the following a debt-restructuring plan last month.

"We have been working with the lenders to secure interim funding for our operations. The interim funding has not been forthcoming thus far," he added.

He also said the current status of engagement with the lenders and other related matters will be placed before the board Tuesday morning to seek guidance on the next steps.

Its long-haul overseas operations is carried out by wide-body B777s and while it deploys smaller B737s into the Middle East, Saarc and markets.

The airline has only seven planes in the fleet with six of them regional jets ATRs and one now. Rest of the planes in its fleet of 123, is on ground due to non-payment of rentals to the lessors and lack of cash to purchase jet fuel.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 15 2019. 19:50 IST
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