Thursday, April 11, 2019

India’s Jet Airways suspends flights to and from Singapore, amid financial troubles

Singapore: Jet Airways, the second largest airline in India, has suspended flights to and from Singapore until further notice, Changi Airport said in a Facebook post on Thursday (April 11).
“Passengers are advised to contact their booking agent or the airline directly (info@jetairways.com) for available options,” Changi Airport added.
Jet Airways has run into financial trouble, with its debt totalling more than US$1.2 billion (S$1.6 billion). Its revenue is also dwindling, in the face of low-cost Indian competitors offering base fares as low as US$0.02 (S$0.027).
The airline had reported losses in nine of the past 11 years, and more than US$600 million (S$811 million) or about 60 per cent of the airline’s market value has been wiped off over the past year alone.
Earlier in March, Jet Airways suspended its operations on as many as 13 international routes till end-April — including a route between Bangalore and Singapore, where it flew twice daily.
11/04/19 Today

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