Jet Airways crisis deepens, with groundings and cancellations

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Jet Airways is struggling: it has now grounded 25 aircraft following its failure to pay lease rates – resulting in the cancellation of up to 200 flights a day. Some 23 routes are affected and while the majority are domestic, they also include flights to Dammam, Doha and Riyadh. The carrier’s debt has now increased to some $1.15bn and its funding gap is about $1.2bn, reports CH Aviation.

Jet has a provisional rescue plan in place, which includes a capital injection, ...