Jet staff take out silent protest march at IGI airport

Jet airways,Delhi,Indira Gandhi International airport

Lenders led by State Bank of India said last week that "other options" may be considered if efforts for the stake sale "don't produce the desired result", without elaborating on what the options could entail.

The Prime Minister's Office is holding an urgent meeting as troubles at cash-strapped Jet Airways increased on Friday.

Last week Thursday Jet Airways reportedly grounded another 10 planes due to unpaid leasing fees.

Earlier in the day, Civil Aviation Minister Suresh Prabhu had directed Kharola to review the issues concerning the airline and take required steps to minimise passenger inconvenience.

"Depending on what the banks decide, the future course of action would be taken", Kharola said.

At present, Jet is operating only 7 aircraft for domestic operations due to the grounding of over 80 per cent of its fleet by lessors owing to non-payment of dues.

On its part, the airline said it has cancelled all global operations from April 12 to 15.

Everest airport hard for landings and take-offs
Four of the passengers and a flight attendant on board the plane were safe, civil administrator Narendra Kumar Rama said. Tenzing Hillary Airport is often referred to as the world's most risky because of the short runway and hard approach.

A day before, the airline made a decision to halt West-bound global departures after it was left with only 14 aircraft from around 120 past year, triggering speculations over its survival as a lengthy stake sale process continued. At its peak, Jet operated 124 flights, and 1500 pilots were required for the same.

The airline on Sunday said it has extended the cancellation of its west-bound flights - to and from Amsterdam, London and Paris - until April 16.

Jet Airways aircrafts are seen parked at Chhatrapati Shivaji Maharaj International Airport in Mumbai, Monday, April 15, 2019.

Mark D. Martin, chief executive of aviation consultancy Martin Consulting, said by Monday evening, Jet Airways creditors should have a list of bids for a controlling stake in the airline.

The NAG cited a March 25 announcement in the media by the SBI, that an interim funding of ₹1,500 crore will be made to keep Jet Airways operational.

Any move like refusal or delay in the release the fund on the part of the lenders will totally ground the beleaguered Jet Airways immediately, said the report.

The management of Jet Airways will be requesting the lenders today to provide a large sum of funds in one portion, at least Rs 1,000 crore, to get the airline's operations back on track but the situation does not look very optimistic, sources close to the development told CNBC-TV18.

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