Jazeera Airways started flying to India 18 months ago, servicing Ahmadabad, Delhi, Hyderabad, Kochi and Mumbai.
The number of issues were the lowest since FY15, compared to 45 in FY18.
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Over 70 per cent of Jet's fleet has been grounded, leading to massive cancellations.
The airline informed the ministry that it would operate 75 planes by April-end.
Of 1,400 pilots the airline has, 200 have quit in the past few months because of salary delays.
A surge in foreign inflows is seen as the major reason behind the latest market surge.
'There will be no flying unless the company pays us substantial salaries and provides a road map,' the National Aviators Guild, the pilots union, said in a message to its members.
Jet has pulled out flights from Northeast states and also cancelled its Srinagar flight, leading to reduction in capacity.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
The first tranche of $31 million was due on March 11, while the second instalment of $109 million was due on March 28.
The deal will give India's largest conglomerate indirect stakes in seven airports in India and abroad.
Jet's operating fleet reduced from 103 planes in October 2018 to 35 now, leading to massive cancellations and a surge in airfares
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
While the airline is accommodating passengers on available flights, this is resulting in extending travel time and detour for customers.
Jet has proactively undertaken certain operational adjustments to its flight schedule, keeping in mind the likely, yet interim non-availability of some aircraft in its fleet in the foreseeable future.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances