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Jet Airways Grounds all its Planes & Operations; Over 20,000 Jet Employees Uncertain of Future

NewsX
NewsX
2 months ago|39 views
Jet airways employees have taken to the streets as thousands have been stung by the rapid unravelling of jet airways. Saddled with more than $1.2 billion in bank debt, jet grounded all its planes on Wednesday after lenders rejected a plea for emergency funds. The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India’s largest private airline. Jet Airways CEO Vinay Dube told employees on Wednesday that the sale would take time and could throw up more challenges, but he was confident the airline would fly again. Failure would threaten more than 16,000 staff jobs and thousands more tied to the airline, which at its peak operated over 120 planes and more than 600 daily flights. They now seek the prime ministers intervention.

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