New Delhi: Jet Airways is all set to ground its operations from 8.30 pm today, as the banks have refused to bailout the airline. The organisation has asked for a lifeline of Rs 400 crore on Wednesday.

Its failure to make payments, forced the lessors to retake almost all its planes, as it is now left with six operational planes.

An official press release has been issued by the Jet Airways, which said, “Late last night, Jet Airways was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they are unable to consider its request for critical interim funding.”

The document added, “Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going. Consequently, with immediate effect, Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today.”

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The last appeal to the SBI-led consortium to get a life-line was made. Now, jet will be the seventh airline to go down since May 2014 and will become 13th one after East West Was hauled.

In the past five years, airlines like Air Pegasus, Air Costa, Air Carnival, Air Deccan, Air Odisha and Zoom Air have all gone down. Another source from Jet Airways confirmed the report and said, “The airline has failed to garner the funds it was desperately looking for to continue operations.”

Lately, Jet Airways has majorly come down in its operations from 123 aircrafts to five planes in the fleet till last December.