International airline Jet Airways is flying just seven planes from its fleet of 120, as its senior leadership and lenders try to find a solution to its growing debt crisis.
The airline is now only running domestic flights, but there are plans to relaunch international flights later this week. The company is 24% owned by UAE-based international airline, Etihad Airways.
Last week, the airline grounded nearly all of its flights, leaving thousands stranded, as the company searched for an investor to buy 75% of the company.
80% of the company’s fleet has been seized by lenders as the company is looking to find a buyer to take on the £900m in debt it owes to multiple banks.
The airline’s chairman, Naresh Goyal, resigned from the board last month as part of a recovery plan.