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Jet Airways temporarily ceases operations as lenders refuse emergency funds

The Ministry of Civil Aviation has said that Jet Airways has informed it that it is temporarily ceasing its operations. In a series of tweets, the Ministry said, the bank-led resolution process is still underway and it is expected to end by the 10th of next month. During this time, the Ministry will support the resolution process within the existing legal and regulatory framework.

The Ministry said, the Directorate General of Civil Aviation and other regulators are monitoring the situation carefully to ensure that all existing rules regarding refunds, cancellations and alternate bookings are followed strictly. Civil Aviation Secretary will convene separate meetings with airport and airlines today to coordinate and address any emerging issues on capacity, slots and passenger convenience.

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