FlyerTalk Forums - View Single Post - WW "airlines to go bust"
View Single Post
Old Apr 17, 2019, 12:41 pm
  #453  
flatlander
 
Join Date: Dec 2009
Location: Flatland
Programs: AA Lifetime Gold 1MM, BA Gold, UA Peon
Posts: 6,112
Jet Airways has suspended all operations: https://www.bbc.com/news/business-47963536
The airline said its last flight would operate on Wednesday as it was not able to pay for fuel and other critical services.

Jet Airways said it had no choice but to suspend the flights, but hopes to start flying again.

It has $1.2bn (£900m) debt and has been in talks with lenders for weeks.
...
The Indian government had asked state-run banks to step in with a bailout plan for the airline - which employs 23,000 people and was founded by Naresh Goyal more than 25 years ago. He stepped down as chairman last month

Pilots, engineers, and ground staff have not been paid for months...

Etihad Airways already owns 24% of Jet Airways and is reported to have expressed an interest in taking more control.
Another successful investment by Etihad, to go along with Darwin Airline, Air Berlin, and Alitalia. Is this a rerun of the "Swissair strategy"?
flatlander is offline