Sunday, 16 June, 2019

Jet Airways temporarily suspends all flights

Jet Airways,Vijay Malyya,Naresh Goyal India's Jet Airways to suspend all operations after banks reject funding request
Jean Garcia | 17 April, 2019, 19:28

"The last flight will operate today", it said in a statement on Wednesday, adding that the decision would take "immediate effect".

Late last night, Jet Airways was informed by State Bank of India, on behalf of the consortium of lenders, that they were unable to consider its request for critical interim funding, the airline said in the statement.

Separately on Wednesday, two sources at state-run banks told Reuters news agency that the banks had rejected the 4bn rupees ($58m) that Jet had sought to keep itself temporarily afloat, while its lenders attempted to identify an investor willing to acquire a majority stake in the airline and attempt to turn it around.

On Monday, in a letter to its employees, Jet Airways had said that it planned to extend its suspension of global flights till Thursday as it had not received any interim funding from lenders. Among the other things discussed were the steadily increasing fares on other airlines and flight cancellations with Jet Airways steadily reducing its operations. "This has been a very hard decision but without interim funding, the airline is simply unable to conduct flight operations in a manner that delivers to the very reasonable expectations of its guests, employees, partners and service providers", the statement added.

Mehta's comments come after Jet informed all employees in a letter on Monday it was extending a suspension of worldwide flights until Thursday due to a lack of funds.

National Football League schedule will be released on Wednesday
We know from the league-wide announcement last week, that the Green Bay Packers and Chicago Bears would kick off the 2019 season. How many primetime games will the Redskins have in 2019? The Seahawks' 2019 opponents, meanwhile, are already set.

Also, in order to retain the wide-bodied aircraft, Jet Airways will need substantial funding soon.

India's debt-stricken Jet Airways has announced the suspension of all operations after failing to secure emergency funding from lenders.

On Tuesday, its former chairman, Naresh Goyal, reportedly withdrew plans to bid for a controlling stake in the company. The bid process will conclude on 10th May 2019 ...

Jet Airways had said earlier on Wednesday it was working to "minimise guest inconvenience" by using its contact centres and social media teams. The airline has proudly fuelled India's economic engine, enabling business travellers and tourists alike to traverse the length and breadth of India and the world.

Expressing solidarity with Jet Airways founder Naresh Goyal, Mallya said that though Goyal was his competitor, the Jet Airways founder deserves credit for building an airline which made every Indian proud.

Recommended

Patriots set to sign Demaryius Thomas Patriots set to sign Demaryius Thomas One passenger reportedly suffered serious injuries when Thomas' auto rolled over, just days after he was released by the Texans. Appearing in 15 games between the two teams, Thomas finished the year with 59 receptions for 677 yards and five touchdowns.

Tiger Woods at the Masters Tiger Woods at the Masters Tiger Woods reacts as he wins the Masters golf tournament Sunday, April 14, 2019, in Augusta, Ga. Does it sting? Sure it stings, but it's just part of the business.

Seahawks, QB Russell Wilson agree to record-breaking contract extension Seahawks, QB Russell Wilson agree to record-breaking contract extension When asked about a new deal on Monday at the start of offseason workouts, Wentz left the contract discussions to his agent. He has averaged 28 touchdown passes and has a career passer rating of 100.3 while being named to the Pro Bowl five times.

Notre Dame fire out, its treasures intact but rebuilding challenges ahead Notre Dame fire out, its treasures intact but rebuilding challenges ahead Notre-Dame was in the midst of renovations and industry sources said the contractor would have its own liability policy. However, investigators will be interviewing people who worked on the cathedral's roof, where the flames first started.

United must do ‘clever business’ to compete with European elite - Solskjaer United must do ‘clever business’ to compete with European elite - Solskjaer Messi's brilliance came as no surprise to Sanchez, who played alongside him at Barca before joining Arsenal. Here are some essential Opta facts as we get ever closer to finding out who will progress to the last four.

TikTok ban in India: Google blocks Chinese app after Madras HC order TikTok ban in India: Google blocks Chinese app after Madras HC order As per the proceedings in the Supreme Court today, the Madras High Court will hear the matter on ex parte ad interim order . The case is up for hearing in the Madras High Court, after which the SC will decide on its fate on 22nd April.

Honor announces date for the Honor 20 Series in London Honor announces date for the Honor 20 Series in London The series incorporates following smartphones: Honor 20 , Honor 20 Pro , Honor 20i , Honor 20A, Honor 20C, and Honor 20X. As per the leaks, the Honor 20 is expected to have a 6.1-inch OLED display with a waterdrop-style notch.

Whispers, concern after Andrei Svechnikov destroyed by hero Alex Ovechkin Whispers, concern after Andrei Svechnikov destroyed by hero Alex Ovechkin Svechnikov may have lost the fight but his team won the battle on the night, as Carolina went on to win 5-0. Svechnikov scored two goals and tallied one assist in the Hurricanes' first two games in this series.

Three killed in Everest airport crash Three killed in Everest airport crash The incident took place as the aircraft lost control on the runway while preparing to take off and hit two parked helicopters. Seven people, including the country's tourism minister, were killed in February when a helicopter crashed in the hilly east.

Trump blasts Omar as 'anti-Semitic' and 'anti Trump blasts Omar as 'anti-Semitic' and 'anti She previously came under fire for her comments about Israel and the strength of the Jewish state's influence in Washington. Critics accuse Omar of being flippant in describing the perpetrators of the attacks that killed almost 3000 people.

Rian Johnson and GOT Creators Plotting the Future of Star Wars Movies Rian Johnson and GOT Creators Plotting the Future of Star Wars Movies Whether it was an accident or not, we now know that a new LEGO Star Wars game is in the pipeline. Then Rian Johnson arrived and wrote The Last Jedi entirely.

Ocasio-Cortez: Social Media Are A Public Health Risk To Everybody Ocasio-Cortez: Social Media Are A Public Health Risk To Everybody Rendell also believes that Omar should have been condemned because of anti-Semitic tweets. Bernie Sanders' 2016 run for the Democratic nomination against Hillary Clinton.

National Hockey League suspends Leafs' Kadri for rest of 1st round National Hockey League  suspends Leafs' Kadri for rest of 1st round Kadri travelled to NY for an in-person hearing, meaning the league had the option to suspend the player for more than five games. The fourth line produced the first goal of the game, with Trevor Moore finding the net early in the second period.

Javi Gracia says Troy Deeney elbow against Arsenal not a red card Javi Gracia says Troy Deeney elbow against Arsenal not a red card Watford's focus now returns to the Premier League, with Arsenal visiting Vicarage Road on Monday night, live on Sky Sports Premier League.

3 key questions for 76ers when facing Nets in 2019 National Basketball Association playoffs 3 key questions for 76ers when facing Nets in 2019 National Basketball Association  playoffs Embiid ended up playing only 10 minutes in the first half and the 76ers were outscored by 15 points with him on the court. This season, Embiid is averaging 27.5 points, 13.6 rebounds and 3.7 assists per game.