After flying for 25 years, Jet Airways announced temporary grounding of operations after the lenders declined ₹400-crore lifeline, putting at stake 20,000 jobs and thousands of crores in passenger refunds, dues to vendors and over Rs 8,500 crore to banks.
As the airline temporarily suspended all flight due to which the share prize of jet airways sank to 165.75 tradings downwards by 31.08%.
Hinting at job losses going forward, grounded carrier Jet Airways chief executive Vinay Dube said the airline does not have an “answer” at present on the fate of its 20,000-odd employees during the stake sale process.
Today, Jet Airways Employees protest against the complete suspension of operations, at the Jantar Mantar in New Delhi. Here are some of the images from the protest:
Last few weeks airline has tried every means possible to seek funding but could not succeed. Airways is India’s oldest private airline which is 26 years old.