Another Airline Grounded as Jet Airways Suspends Operations

Apr 17, 2019

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Jet Airways, formerly the largest privately-owned airline in India, announced Wednesday that the airline has suspended all operations after failing to fundraise enough cash to stay afloat. Less than a week ago, Jet canceled all international flights through April 15, raising fears that the carrier was in danger of losing it all.

“Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going,” a Jet Airways statement said.

Jet Airways lenders, led by the government-run State Bank of India, stated that they would not extend additional funding to the airline, no doubt with the airline’s $1 billion+ debt in mind. Jet, which had 119 aircraft as of December 31, recently defaulted on some of those debts after reporting a net loss in Q4 of around $83 million. Jet Airways pilots have complained that they haven’t been paid in four months; the New Delhi Television news channel said 20,000 airline jobs are at stake.

In light of these issues, Jet Airways “has decided to go ahead with temporary suspension of operations,” the airline stated.

If you’ve been affected by the Jet Airways operations suspension, check out our guide on what to do to get your money (and your self!) back.

For the latest travel news, deals and points and miles tips please subscribe to The Points Guy daily email newsletter.

Featured photo by Nicolas Economou/NurPhoto via Getty Images

American Express® Green Card

WELCOME OFFER: 30,000 Points

TPG'S BONUS VALUATION*: $600

CARD HIGHLIGHTS: up to $100 annual CLEAR statement credit, up to $100 annual LoungeBuddy statement credit, 3x points on travel and transit, 3x points on restaurants worldwide

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 30,000 Membership Rewards® points after you spend $2,000 on purchases on your new Card in your first 3 months.
  • Earn 3X Membership Rewards® points on all eligible travel, from subway swipes and window seats to hotel stays and city tours.
  • Earn 3X Membership Rewards® points at restaurants worldwide.
  • Receive up to $100 per year in statement credits when you use the American Express® Green Card to pay for your CLEAR® membership at select airports and stadiums across the U.S. and Permissible Biometric Scanning Technology terms: eye scanning, irises scanning and fingerprints scanning.
  • Use the American Express® Green Card to purchase lounge access through LoungeBuddy to any of the lounges in the LoungeBuddy network – no memberships, elite statuses, or first class tickets required. Earn up to $100 in statement credits per calendar year on your LoungeBuddy purchases.
  • No Foreign Transaction Fees.
  • $150 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
See Rates & Fees
Annual Fee
$150
Balance Transfer Fee
See Terms
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.