Jet Airways heading for a crash-landing?
Bracing for a possible shuttering, Jet Airways Thursday grounded services across the Eastern and Northeastern markers and also suspended its international operations for a day, while 1o more planes were forced out of the fleet.
In related developments, its board met in Mumbai and discussed "operational" issues, while airlines' strategic partner Etihad Airways submitted initial bids for higher stake in the crippled carrier.
However, founder Naresh Goyal, who had also planned to participate in the bids and was expected to put in bids Thursday, did not do so till late evening, the sources said.
Goyal owns 50.1 percent in the airline, most of which is pledged with lenders. Goyal had last month agreed to pare down his stake to 25.5 percent for an emergency fund of Rs 1,500 crore from the lenders, and leave the board but the process is yet to be completed due to procedural delays.
The government has tried to rescue the airline, fearing job more losses ahead of the hustings, ...