Jet Airways grounds more aircraft, suspends worldwide flights

Relief for Jet Airways! There are parties interested in buying stake after all

Jet Airways cancels all international flights for Thursday night, three domestic flights for Friday

The airline owes more than USA $500 million to passengers affected by cancelled flights, government estimates show. The airline had 14 operational aircraft on Thursday - 7 wide body (six Boeing 777 and one Airbus A330) and 7 Boeing 737s and turboprop ATRs.

"The Company is making all efforts to minimise disruption to its network due to the above and is proactively informing and re-accommodating its affected guests", the statement released by the company said.This comes after the Union Government said that Jet Airways' eligibility to fly on worldwide routes needs to be examined.

Private Indian carrier Jet Airways, laden with debt, has suspended both its flights to and from Singapore, with no indication of when or whether the services will resume.

Etihad Airways already holds 24 percent stake in the airline, and may look to take its holding up to 49 percent, the sources told CNBC-TV18. Goyal, who has pledged 41.1 per cent of his 51 per cent stake in the airline, has been in touch with potential investors including some sovereign wealth funds, it is learnt. However, when contacted, a spokesperson of the carrier said it does not comment on speculation. The other four players to have placed bids are National Investment and Infrastructure Fund (NIIF), Indigo Partners, a consortium of Redcliffe Capital and Think Equity and TPG Capital.

Meanwhile, the Jet Airways board met on Thursday to take stock of the situation.

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Various India media reported on Friday that Jet Airways had cancelled all global flights, which include services to Europe and Asia.

Jet Airways has grounded most of its fleet, because it is unable to pay lessors and can not afford required maintenance for some aircraft. The groundings have affected its services to and from the East and Northeast.

According to industry sources, the airline is set to operate only five departures from Mumbai, one from Bengaluru and about 20 from Delhi on Friday.

Jet Airways" employees, including its ground staff, have called for a "gathering' on April 12 at the airline's headquarters in Mumbai to enquire on their unpaid salary.

According to a second official, the ministry has sought a report from aviation regulator Directorate General of Civil Aviation (DGCA) on the current fleet size of Jet Airways.

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