Jet Airways Cancels All International Flight and What to Do if You've Been Affected
India's Jet Airways has canceled all international flights for the next few days, raising fears that another carrier is in danger of losing it all. The airline said in a statement that it was nixing all flights from Friday through Monday, April 15.
Jet Airways is India's largest privately owned airline but carries more than $1 billion of debt. This lack of immediate liquidity has led to the cancellations. Reports indicate that the airline is only operating 14 aircraft after it had to ground 10 more planes due to missed lease payments. That's down from 123 aircraft just a few months ago.
Airlines in India must operate 20 aircraft in order to fly to international destinations, reports the BBC. Routes Online says that reservations have been closed over the coming weeks for flights to international destinations, including Jet Airways' only flight to North America: Delhi-Amsterdam-Toronto.
Government officials pressured Indian banks in March to loan Jet Airways more cash to keep the carrier afloat, however financial institutions have only released a tiny part of what they promised the airline.
Despite the bleak situation, there's still a glimmer hope for the carrier: Etihad, Air Canada and India's national investment fund have submitted bids to invest in Jet, the Economic Times reports. Etihad already owns 24% percent of the carrier, and has a history of making poor investments in airlines like bankrupt Air Berlin and Alitalia, both which have contributed to huge losses for the carrier.
Jet Airways' London Heathrow slots have already been given to Etihad, who purchased the valuable real estate as part of the Etihad's 2013 investment in the carrier.
India's aviation minister tweeted on Friday that the government would take "necessary steps to minimize passenger inconvenience and ensure their [Jet Airways passengers'] safety."
As we've reported with WOW Air as it started to show serious signs of financial weakness, be aware of the risks of purchasing a ticket with an airline that's on the brink of financially insolvency. WOW Air passengers were stranded across multiple continents when the carrier ceased operations.
If you do buy a ticket with the airline, make sure you use a credit card that comes with trip cancellation insurance and consider other third-party trip insurance.
And for those who've already purchased a Jet Airways ticket and have had a flight affected by the cancellations, you can initiate a chargeback or dispute with the issuer, as TPG's Ethan Steinberg recently advised one of our readers. "I spoke to representatives from both Chase and American Express on the phone," Ethan wrote, "and while they couldn't confirm the outcome of any such dispute, they said that paying for a service and not receiving it would give you a very strong case and good odds of getting your money back."
If you had a Jet Airways flight departing from a European Union airport you may also be entitled to compensation of up to 600 Euros (~$680) per person under EU 261, the European Union's bill of air passenger rights. The rule would require Jet Airways to get you to your final destination (if departing from the EU) or refund you the cost of your ticket.
TPG reached out to Jet Airways for comment but did not hear back by time of publication.
TPG featured card
at Bilt's secure site
Terms & restrictions apply. See rates & fees.
| 1X | Choose to earn up to 1X points on rent and mortgage payments with no transaction fee |
| 2X | Earn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases |
Pros
- Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
- Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
- $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
- $200 Bilt Cash annually
- Priority Pass membership
- No foreign transaction fees
Cons
- Moderate annual fee
- Designed primarily for members seeking a premium, all-in-one card
- Earn points on housing with no transaction fee
- Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.