Jet Airways ‘Compelled to Cancel’ All Flights After Failure to Secure Funding

India’s beleaguered carrier Jet Airways issued a statement on Wednesday suspending all flight operations. The airline, which had cancelled all international and some domestic services from last week and was left with only five aircraft in service, advised that the State Bank of India (SBI)representing a consortium of Indian lenders was “unable to consider its request for critical interim funding.” The statement referenced multiple attempts over the last several months to secure both interim and long-term funding, but all attempts…