Troubled Indian carrier Jet Airways suspends all flights to and from Singapore

Relief for Jet Airways! There are parties interested in buying stake after all

The cash-strapped Jet Airways has a lot riding on the outcome of the stake sale with its operational crisis continuing to spiral out of control.

Last month, the airline suspended in operations along as many as 13 global routes till end-April. Between yesterday and today, it cancelled flights to Singapore and Kathmandu.

But the Mumbai-based airline is now operating just 14 aircraft - and it could lead to the suspension of its worldwide operations, according to Indian news agency IANS.

As the deadline for bids to purchase a stake in Jet Airways has been extended till April 12th, the airline's creditors have reportedly received a bid Etihad, which is the struggling carrier's UAE-based partner.

Former Jet Airways chairman Naresh Goyal is also expected to submit initial bids for a stake in the airline, sources said. Goyal had last month agreed to pare down his stake to 25.5 percent for an emergency fund of Rs 1,500 crore from the lenders, and leave the board but the process is yet to be completed due to procedural delays.

In a statement to the Mumbai Stock Exchange late Thursday, Jet Airways said an "additional 10 aircraft have been grounded due to non-payment of amounts outstanding to lessors".

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"All Jet operations to and from the eastern and northeastern states are suspended till further notice. Following this, there are no Jet flights to and from Kolkata, Patna, Guwahati and other airports in the region", said a travel industry source.

"Jet Airways' flight 9W 615 Mumbai to Kolkata and 9W 675 from Kolkata to Guwahati on April 12 are cancelled due to operational reasons".

Earlier in the day, Pradeep Singh Kharola said that Jet Airways is operating less than 15 plans and that its eligibility to fly on global routes 'needs to be examined'. This is below the minimum 20 planes required to operate worldwide flights, and a fraction of the 119 aircraft it flew before its first default on 31 December.

Of the 14 aircraft that it is operated till Thursday evening, eight were wide-body B777s (seven) and an A330- generally used for long-haul worldwide operations.

And according to the official website for London's Heathrow airport, Jet Airways' Friday flights to Mumbai and Delhi will not operate.

Canadian airline Air Canada also remains in talks with lenders for a potential bid but has sought more time from banks for submission of EOI.

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