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Jet Airways suspends all flights after cash runs out

Indian carrier's plight deepens as lenders await outcome of bidding

MUMBAI -- India's Jet Airways halted all operations Wednesday after a group of lenders led by State Bank of India failed to agree to provide immediate working capital to the cash-strapped airline.

"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," India's first private air carrier said in a statement to the Bombay Stock Exchange on Wednesday evening.

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