Jet Airways crisis explained in 10 points

Once a luxury air carrier to near bankruptcy, Jet Airways stunned the nation by landing into financial troubles. The company recently announced that it was under a debt of over Rs 8,500 crore. The founders and owners Naresh Goyal and his wife Anita stepped down from the board, giving lenders full control. And yet, after months of uncertainty, the private carrier announced a temporary suspension of its operations on April 17 as it failed to receive the required Rs 400 crores in emergency funds from lenders. Cash-starved Jet Airways, which has around 23,000 employees, also owes salaries to the staff, including pilots. 

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