Mumbai: On Wednesday, struggling in jittery to take a breath for the past several months, the final flight of cash- strained Jet Airways take off at night. After 25 years, the longest serving private airline in India, shut down temporarily as its lenders refused to offer Rs 400 Cr life line.
On Wednesday night, airline was informed by State Bank of India on behalf of the consortium of lenders, that their request for a critical interim fund was rejected. So far no emergency funding or any other source of funding is not likely to be availed, the airline fails to meet the amount for critical services including pay for fuel and other services. The airline has no other way but to annual its services temporarily. ‘’With immediate effect, we are compelled to cancel our international and domestic flights. The last flight will operate today.”Air line sources reportedly informed.
The last flight of the airline left from Amritsar airport to Delhi on last night as per the schedule. Jet airlines have the prestigious history of flying around 650 flights per day at its peak. Last few months’ Jet Airways was running in a struggle. Jet Airways founder Naresh Goyal and his wife Anita Goyal was stepped down from the airline board in last month due to the growing crisis in the financially-stripped company. After his step down SBI-led consortium of banks were undertaken operations of the company and now the consortium failed to give final breath for the 8,000 crore debt- ridden company.