Jet Airways is shutting down operations from tonight

Jet Airways is shutting down operations from tonight

In a series of tweets, Mallya asked why the government roped in public sector banks to save the crisis-hit Air India but failed to bail out private airlines.

Jet Airways, once India's largest airline, says it is temporarily suspending all operations after failing to raise enough money to run its services.

"Every time I say that I am willing to pay 100 percent back to the PSU Banks, media say I am spooked, terrified etc of extradition from the India". "Every time I say that I am willing to pay 100% back to the PSU banks, the media says I am spooked, terrified, etc of extradition from the United Kingdom to India", he tweeted. "Just being a PSU is no excuse for discrimination". "I am willing to pay either way, whether I am in London or in an Indian jail". Why do the Banks not take my money? The lenders are keen to have Etihad take over Jet Airways' operations as it is the only strategic investor in the fray,"said a third source".

"I invested hugely into Kingfisher [Airlines] which rapidly grew to become India's largest and most awarded airline", Mallya said.

The company had more than 16,000 employees on its payroll - and a number of staffers across various roles started jumping ship over the past few weeks, joining rival airlines in the domestic as well as the worldwide circuit. "Double standards under NDA", read another tweet.

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The airline said its last flight would operate on Wednesday as it was not able to pay for fuel and other vital services.

"Please note that in view of the critical liquidity position of the Company, its operations have been severely impacted".

The banks have been seeking a bidder for the airline, which said it would continue to support them in their efforts. In internal communication, Jet Airways chief executive Vinay Dube said the lenders could not reach a consensus on the emergency funding and the board would meet again on Tuesday to further deliberate on the matter. Goyal and his wife Anita Goyal had already stepped down from the board of the airline. Prabhu has also asked civil aviation secretary Pradeep Singh Kharola to take necessary steps to protect the rights and safety of passengers, in the light of rising airfares and an increasing amount of flight cancellations.

Latest analysis of data disclosed by the Directorate General of Civil Aviation shows that Jet's lessors have, so far, sought to deregister and repossess at least four dozen of the planes operated by Jet.

Jet Airways is all set to end its operations from tonight after the ldenrs rejected its appeal for additional funding to stay afloat. "Interim funding has not been forthcoming thus far, & as a result of this we have extended cancellation of worldwide operations through Thursday, April 19". There has been a backlash on social media about Jet Airways' financial problems.

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