The future of Jet Airways operations will depend on the outcome of the meeting which will take place on Monday between the management of the airline and its lenders, several people aware of the development said.

The airline stares at almost negligible or nil operations from Monday if lenders do not agree to infuse the interim funding of Rs 1,500 crore, multiple people in the know of the matter added.

"International flights are unlikely to be resumed before a substantial amount of loan is received from the banks. In domestic, it will be negligible or nil, if these funds don't come in," sources said.

The airline needs to fly at least 5 planes in order to maintain its permit as a scheduled operator under the Directorate General of Civil Aviation (DGCA) norms.

While the airline requested the lenders to infuse funds today as well, the lenders didn't agree on releasing any more money and the meeting was inconclusive.

Banks have not been able to reach a consensus on providing more loans to Jet Airways even after repeated meetings and proposals from the airline's management.

Except for State Bank of India, other banks are not comfortable in lending more to the carrier without an investor already in place, sources said.

The struggling carrier today flew 11 planes, down from 14 aircraft it operated on Thursday. The airline flew 26 till last week and had a fleet of 119 planes till December.

The Mumbai-based airline will now fly just 6-7 planes, a combination of around 6 ATRs and one Boeing 737, from tomorrow onwards. "Out of the total daily domestic flights of 3100, Jet Airways is flying below 50," a senior government official said.

"Bookings have reduced substantially but as of now, the airline has not been barred from taking advance bookings," another official said.

The government has also advised Jet Airways to inform passengers of flight cancellations at least 24 hours in advance to prevent the chaos seen at Delhi and Mumbai airports on Thursday when Jet Airways abruptly suspended all international operations.

"We advised them that safety of the passengers should not be compromised under any circumstances. Depending on Monday meeting, the future course of action will be decided," union civil aviation secretary Pradeep Singh Kharola said.

First Published:Apr 14, 2019 10:32 PM IST