Jet Airways shares were down as much as 18.53 per cent, their worst session since August 2015
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
Lenders fail to infuse emergency fund after a crucial meeting on Monday
The airline, which has debt of more than $1.2 billion, has had to ground over two-thirds of its fleet over unpaid dues
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
Jet Airways had grounded dozens of aircraft over the past few weeks as its finances deteriorated
The pilots, along with engineers and senior management, have not received salaries since January
According to reports, 90% of Jet Airways' fleet of 120 aircraft was grounded in the last one month
Jet Airways has also cancelled its long-haul, west-bound operations to and from Amsterdam, London Heathrow, and Paris till April 16
Jet Airways is saddled with more than $1.2 billion of debt and it has had to ground more than 80 per cent of its fleet over unpaid dues to leasing companies.
Airline told to prepare a 3-week operational plan
The beleaguered airline, which is flying just six-seven aircraft on Saturday, has asked its lenders to grant some "interim funding"
The Jet episode raises many questions and the government of the day needs to answer them
Some passengers on Thursday night roughed up the reservation counter staff on learning of last-minute cancellations
Abu Dhabi-based airline wants Jet to boost ambitions for West Asia but its progress in this area has faltered
PMO holds emergency meeting to discuss the crisis; international flights remain suspended
Goyal quit as chairman of the carrier last month under a debt resolution plan that saw lenders taking control of the airline
Jet Airways has also been told to alert passengers about flight cancellations 48 hours in advance, Aviation Secretary P S Kharola said
As the crisis in the private airline deepened, the Prime Minister's Office has called an urgent meeting to discuss the situation, official sources said
Incidentally, the stake sale bid invited by the SBI- led consortium of bankers, which manages the day-to-operations of the airline, also closes by the end of the day Friday