India's first private airlines Jet Airways has suspended its operations from today April 18th. Even though the company owns 44 aircrafts only seven were being operated due to heavy financial crunch. An official statement read "With deep sadness and a heavy heart we would like to share that, effective immediately, we will be suspending all our domestic and international flight operations."

Jet Airways is reeling under a rupees 7000 Crore feul debt, pending salaries to employees since January 2019 and other debts. First the Tata group held talks to buy out the company but coud not arrive at a deal and talks with flying partner Etihad Airways to increase its stake also did not materialize. The State Bank of India offered rupees 1500 Crore loan but Jet could not even wait for that sum to arrive and have announced the suspension. The future of 20000 employees has now become a question mark and whether a bailout is possible will be known only in the coming days.