New Delhi: Debt-stricken Jet Airways has suspended all of its operations on Wednesday after failing to secure emergency funding from lenders.
In a statement, the company said, 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.
Jet Airways has informed the DGCA and the Ministries of Civil Aviation and Finance and other relevant government institutions, of this course of action.
Meanwhile, Ministry of Civil Aviation has said DGCA and other regulators are monitoring the situation carefully to ensure that all existing rules regarding refunds, cancellations and alternate bookings are followed strictly.
In a series of tweets, the Ministry said, the bank-led resolution process is still underway and it is expected to end by 10th of next month.
During this time, the Ministry will support the resolution process within the existing legal and regulatory framework.
The Ministry said, any passenger complaints or issues should be promptly reported to the Air Sewa portal or mobile app and the Ministry will follow up immediately.
Civil Aviation Secretary will convene separate meetings with airport and airlines tomorrow to coordinate and address any emerging issues on capacity, slots and passenger convenience.