This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
Jet Airways, formerly the largest privately-owned airline in India, announced Wednesday that the airline has suspended all operations after failing to fundraise enough cash to stay afloat. Less than a week ago, Jet canceled all international flights through April 15, raising fears that the carrier was in danger of losing it all.
“Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going,” a Jet Airways statement said.
Jet Airways lenders, led by the government-run State Bank of India, stated that they would not extend additional funding to the airline, no doubt with the airline’s $1 billion+ debt in mind. Jet, which had 119 aircraft as of December 31, recently defaulted on some of those debts after reporting a net loss in Q4 of around $83 million. Jet Airways pilots have complained that they haven’t been paid in four months; the New Delhi Television news channel said 20,000 airline jobs are at stake.
In light of these issues, Jet Airways “has decided to go ahead with temporary suspension of operations,” the airline stated.
If you’ve been affected by the Jet Airways operations suspension, check out our guide on what to do to get your money (and your self!) back.
For the latest travel news, deals and points and miles tips please subscribe to The Points Guy daily email newsletter.
Featured photo by Nicolas Economou/NurPhoto via Getty Images
Know before you go.
News and deals straight to your inbox every day.
The Business Platinum Card from American Express offers 40,000 bonus Membership Rewards® points as well as a slew of other valuable benefits like lounge access, hotel elite status and a digital subscription to The Times and The Sunday Times for Primary and Platinum Supplementary Cardmembers.
- Earn 40,000 Membership Rewards points when you spend £6k in your first 3 months of Card Membership
- Up to 99 free Supplementary Cards - one complimentary Platinum Employee Cards and 98 Complimentary Gold Employee Cards
- Global Lounge Collection - Access to more than 1,200 airport lounges across 130 countries, including The Centurion® Lounges and membership of Priority Pass™
- Hotel Status at Hilton, Marriott Bonvoy™, Meliá Hotels International, Radisson Hotel Group, Shangri-La Hotels & Resorts – enjoy benefits such as complimentary upgrades, early check-in and late check-out, enhanced loyalty points, complimentary Wi-Fi and more
- The Times and The Sunday Times annual digital subscription (£312 value per Card) – available for Primary and all Supplementary Cardmembers
- Fine Hotels and Resorts – Enjoy a collection of over 1,000 hand-selected iconic 5-star properties worldwide. Receive complimentary benefits worth an average total value of £400 per stay.*
- £150 statement credit for every booking with onefinestay (unlimited use)
- Dedicated Account Management Team