Jet Airways only operating five planes now: Civil Aviation Ministry

JetBlue A320

Since the March 25 resolution to infuse Rs 1,500 crore into the airline is yet to fructify, the once leading airline has been defaulting on payments, forcing its lessors to retake nearly all its planes and was operating just about six planes as of Tuesday.

Civil Aviation Secretary Pradeep Singh Kharola said that aviation ministry will also convene a meeting of airlines, airport representatives over capacity expansion and airfare issues on April 18. Jet has no funds to pay for its operational costs and has suspended all global flights and has a mere 7 planes are now flying out of its earlier fleet of 119.

The airlines will hold a board meeting on Tuesday to chalk out future course of action after the airline failed to get emergency funding from lenders.

Mumbai: With the lenders rejecting an lifeline of Rs 400 crore Wednesday Jet Airways, which has been on a wing and prayer since January, is left with no other option but to ground operations at least temporarily.

Earlier in the day, Civil Aviation Minister Suresh Prabhu had called for a review of issues related to struggling Jet Airways, including rising fares and flight cancellations.

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On April 15, lenders did not take a final decision on providing emergency funds to the cash-strapped carrier. The airline's board will meet on Tuesday morning to see what to do now in the absence of the funds that were required to keep operating.

The board of the full service carrier, which is now operating less than 10 aircraft, is meeting in Mumbai on April 16.

Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.

These include private equity firms TPG Capital and Indigo Partners, Indian sovereign wealth fund National Investment and Infrastructure Fund (NIIF), and the UAE's Etihad Airways, which already owns a minority stake in Jet, it said.

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