Jet Airways had been in financial distress for many months due to heavy financial losses and an over indebted balance sheet. Its domestic operations have been subject to signifiant disruption as aircraft have been grounded.
This has now extended to its international operations. Flights have already been operating without in-flight entertainment over the past week and some international routes outside of London have been cancelled.
Jet Airways flies from London Heathrow to New Delhi and Mumbai. The latter route is also codeshared with Virgin Atlantic.
All Jet Airways flights from London Heathrow are showing as cancelled on Friday 12, Saturday 13 and Sunday 14 April 2019:
Flight 9W119 London Heathrow – Mumbai
Flight 9W117 London Heathrow – Mumbai
Flight 9W121 London Heathrow – New Delhi
These flights have also been taken off sale from its website on Saturday 13 April 2019. Until Monday 15 April 2019, Jet Airways is expected to operate only a very limited number of domestic flights.
Jet Airways has provided limited disruption assistance advice on its website. Whilst it is promising full refunds to passengers, there is a long list of creditors, including its own pilots, who are owed money by the airline.
In anticipation of disruption Virgin Atlantic has confirmed that passengers who have booked to fly on Virgin Atlantic with onward connections to Jet Airways can either obtain a refund or rebook to an alternative date or destination. More details are available from Virgin Atlantic.
Whilst efforts are being made to find new investors in Jet Airways, this is clearly a fluid situation. Given the airline’s debts, widespread operational disruption and loss of confidence in the airline, it is hard to see what assets are left for any willing potential purchaser.
About Jet Airways
Jet Airways was founded in 1993 and was once India’s largest airline by market share. It began flying from London Heathrow in 2005 following a relaxation of a bilateral treaty which allowed more flights between the UK and India. Etihad acquired a 24% stake in the airline in 2013, and this is the latest in a truly disastrous string of investments by Etihad.
In the event of continued disruption it’s not clear what happens to Jet Airways’ Heathrow slots as Etihad did acquire three slot pairs from Jet Airways when it acquired a stake in the airline.