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Jet Airways Cash Troubles

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ShanwickOceanic (netAirspace FAA) 21 Mar 19, 09:27Post
Indian carrier Jet Airways has grounded a further six aircraft amid a deepening crisis.

The beleaguered company has been struggling under the weight of debts totalling more than than $1bn (£750m).

The airline has delayed payments to banks, employees, suppliers and even aircraft lessors.

Read more: https://www.bbc.com/news/business-47626409

Half the fleet grounded, and the remainder with no pilots a week from now. Doesn't look good.
Let him that hath understanding count the number of the beast:
For it is the number of a man; and its number is One hundred threescore and twelve.

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JLAmber (netAirspace ATC & Founding Member) 21 Mar 19, 15:45Post
Things have been looking bad for Jet for a while now. Part of the problem seems to be that Etihad are fast running out of cash and are offloading their less lucrative investments fast, their stake in Jet being one. Without an investor that needs access to an Indian domestic carrier, I really can't see any future for them.
A million great ideas...
ShanwickOceanic (netAirspace FAA) 11 Apr 19, 11:26Post
A European cargo services provider seized one of Jet's planes at Amsterdam's Schiphol airport for non-payment of dues, leaving hundreds of passengers stranded.

"The cargo agent seized Boeing 777-300 ER (VT-JEW) of Jet Airways at the Amsterdam airport as the airline could not clear his dues," the airline source said.

Back home, Indian Oil stopped fuel supply to Jet for the third time this week across India for several hours.

https://economictimes.indiatimes.com/in ... 826663.cms
Let him that hath understanding count the number of the beast:
For it is the number of a man; and its number is One hundred threescore and twelve.
Zak (netAirspace FAA) 11 Apr 19, 15:51Post
In Germany, there are rumours that LH might be interested in acquiring Jet Airways. Personally, I don't think that's more than just rumours, though.
Yes, the new EU copyright directive is that stupid.
airtrainer 12 Apr 19, 01:33Post
Doesn't look good indeed :(
India’s Directorate General of Civil Aviation (DGCA) has processed the deregistration of seven Boeing 737-800s, while it has received requests to deregister 13 more aircraft.
The deregistered aircraft correspond to two 737s managed by Avolon and five from MC Aviation Partners for which requests were made last week.

Source
Sir, would you like chicken or pasta ?
ShanwickOceanic (netAirspace FAA) 12 Apr 19, 07:16Post
And then there's this:

Jet Airways appears to have suspended all its international flights, raising fresh fears about the Indian airline's survival.

This comes after the carrier on Thursday grounded 10 more planes over unpaid fees to leasing firms.

https://www.bbc.com/news/business-47905089

Seems just about the only thing left flying at Jet is the vultures circling.
Let him that hath understanding count the number of the beast:
For it is the number of a man; and its number is One hundred threescore and twelve.
miamiair (netAirspace FAA) 17 Apr 19, 17:26Post
Boom goes the dynamite.

Jet Airways Suspends Operations

The two-decade-plus success story of India’s first, private, full-service airline may finally be over. Jet Airways has "temporarily" suspended flights as of 10:30 p.m. (Indian Standard Time) tonight (1 p.m. EDT).

This follows the carrier’s largest lenders, which are owed around $1.2 billion, refusing to give in to a request for critical interim funding. While Jet was looking at an initial funding package of $225 million, it reduced this to $57 million on April 16 during a board meeting. The banks rejected this too. “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,” said a Jet press release issued to the Stock Exchange. Jet, which was running on just six of its once 119-strong fleet, had already shut down international operations. A few days ago a lessor repossessed an aircraft in Amsterdam, leaving passengers stranded.

Link
And let's get one thing straight. There's a big difference between a pilot and an aviator. One is a technician; the other is an artist in love with flight. — E. B. Jeppesen
airtrainer 18 Apr 19, 04:48Post
From their homepage...

It is with deep sadness and with a heavy heart that we would like to share with you that, effective immediately, Jet Airways will be suspending all its domestic and international operations.

Late last night we were informed by SBI, on behalf of the consortium of Indian lenders, that they are unable to consider our request for interim funding. Since no emergency funding from the lenders or any other source of funding was forthcoming, it would therefore not have been possible for us to pay for fuel or other critical services to keep the operations going.


https://www.jetairways.com/information/ ... pdate.html
Sir, would you like chicken or pasta ?
Zak (netAirspace FAA) 18 Apr 19, 10:35Post
Sad news, really. From all I heard, Jet Airways were a very nice carrier.

Any bets on who's next? Asiana? {boxed}
Yes, the new EU copyright directive is that stupid.
miamiair (netAirspace FAA) 18 Apr 19, 11:17Post
Zak wrote:Any bets on who's next? Asiana? {boxed}


Safe bet.
And let's get one thing straight. There's a big difference between a pilot and an aviator. One is a technician; the other is an artist in love with flight. — E. B. Jeppesen
mhodgson (ATC & Photo Quality Screener & Founding Member) 18 Apr 19, 12:04Post
Malaysia? I recall them being in constant turmoil a few years ago though since some rationalisation I haven't heard as much about them so hopefully they're not on the at risk list!
There's the right way, the wrong way and the railway.

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