Jet Airways stops international flights fearing the future of India's largest private airline, just days after the Wow Air collapse
- Jet Airways is said to have stopped all its international flights
- The Indian airline is struggling with large debts and has landed planes
- It is now threatening to become the last in a series of airlines that goes bankrupt
Jet Airways has suspended its international flights, creating new fears about the future of India's largest private airline.
On Thursday, the company, struggling with a debt of $ 1 billion, was forced to ground 10 of its planes due to late payments to its leasing companies.
Some local media claim that the airline now operates only 14 of its 100 aircraft, leaving the minimum of 20 aircraft that carriers in India need to maintain if they want to perform international services, the BBC reported.
Clipped wings: there are fears for the future of Jet Airways amid reports that all its international flights have crashed
Other reports explicitly state that Jet Airways has canceled all its international flights.
Jet Airways flies on 600 domestic and 380 international routes, including services to Europe and Asia.
The British Civil Aviation Authority acknowledged on twitter that international flights had been suspended, and a notice on the Heathrow Airport website said that Jet Airways flights to Mumbai and Delhi today will not be operated.
The British Civil Aviation Authority acknowledged on twitter that flights had been suspended
A Heathrow spokesperson said: & We are aware of this situation and our main priority is to support those affected by our passenger service teams. We advise travelers to contact the airline for the latest information. & # 39;
The airline has urgently searched for new money to cover its overhead costs and to prevent the risk of collapse.
As the situation increased, it was forced to ground aircraft and cancel thousands of flights.
Debt Building: Jet Airways is struggling with a debt mountain of $ 1 billion and is looking for new funds
It comes just two weeks after the collapse of Icelandic budget company Wow Air, which was unable to get a rescue operation over the line.
Flybmi, Monarch, Primera, Air Berlin and Germania, among others, have all gone bankrupt in recent years, during what was a testing time for the aviation industry amid rising fuel costs and fierce competition.
The outspoken boss Michael O & # 39; Leary of Ryanair recently warned that in 2024 only five budget companies would remain in Europe.
Wow Air hit the buffers at the end of March after claiming it was close to the closing of a rescue deal
This morning's news comes as an unstoppable blow to the aviation sector, which finally received a much needed boost after the Brexit was pushed back to the end of October.
The new deadline, which is preventing Britain from leaving the EU today with No Deal, has taken away the fear that Brexit uncertainty would deter UK holidaymakers from booking their summer flight.
On Thursday, travel agent Tui jumped up 8.3 percent, EasyJet rose 8.4 percent, while the older IAG of British Airways rose 5.9 percent.