Jet Airways pilots strike which was to begin from April 15 deferred

Understanding what lies ahead of Jet Airways

The Prime Minister's Office (PMO) on Friday stepped in to assess Jet Airways' financial situation as the cash-strapped airline suspended its worldwide operations till the weekend after further reduction in its fleet size.

Jet Airways flies between Amsterdam and Bengaluru (commonly known as "Bangalore"), Delhi, and Mumbai in India, and also Toronto, Canada.

Pilots, engineers, and ground staff who have not been paid for three months have said they will strike if the banks do not inject emergency funds.

Once India's largest carrier, Jet Airways is now operating only seven of its 14 aircraft, and is flying only domestic routes, according to spokesman Gaurav Sahni.

The airline is in debt of more than £900m, protestors are demanding prime minister Narendra Modi step in to help.

The airline is going through a severe turmoil with its worldwide operations suspended. The airline on Sunday had these 7 aircraft in operation.

Earlier in the day, the guild, which has around 1,100 pilots as its members, chose to stop flying from 15 April in protest against non-payment of salaries since March.

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Founded in 1974, Jet Air was a powerful General Sales Agents (GSA) that represented as many as 17 global airlines before it spawned Jet Airways in the 1990s.

Once India's second-biggest airline by market share, the Mumbai-based firm has defaulted on loans and struggled to pay aircraft lessors and staff.

In March, a consortium of lenders led by SBI took control over the management and it was made a decision to infuse Rs 1,500 crore into the carrier to keep it going till an investor is found.

Cash-strapped Jet Airways is now flying less than 50 domestic flights, a senior official of aviation regulator DGCA said on Friday.

Praising the management for having allowed employees to seek jobs in other airlines, Captain Tyagi said: "Nobody wants to leave this airline".

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. Therefore the "call of No Pay No Work stands deferred for the time being" to give the airline a chance of survival, it said.

A Business Standard newspaper report on Sunday said Jet's lenders, led by the SBI, are considering a proposal to infuse 10 billion rupees ($145 million) to keep the airline afloat once Jet submits a plan on how it intends to use the money.

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