While it’s a sad day for Jet Airways, its staff and its passengers as the airline suspended all its flights, an important question that arises at this juncture is - what happens to JPMiles now? Well, if you are one of the over 90 lakh members of its frequent flyer programme JetPrivilege, worry not, as it has assured the value of your JPMiles.
“We would like to assure our members that the value of their JPMiles are secure and remain intact,” JetPrivilege said in a statement.
The independent loyalty and rewards management company stated that with the air reward offering ‘Select Flights’, the members can redeem their JPMiles to fly free across more airlines, any destinations, any flights and any seats in India and globally, starting with the same JPMiles requirement as before which was applicable on Jet Airways and its partner airlines.
Jet Privilege was established in 2012 as a wholly-owned unit of Jet Airways. In 2014, Etihad Airways PJSC bought a 50.1 percent stake for $150 million, taking the firm's value to $300 million. At the time of enrolment, the members were promised the privilege to redeem their JPMiles for a free flight.
The members can continue to use their JPMiles on hotel stays, fuel and 2500 plus merchandise options on the JetPrivilege Reward Store, it said. “We consider it our foremost responsibility to safeguard the faith our members have placed in us and remain steadfast in protecting and creating more value for our members through JPMiles. We are constantly expanding our vast partner network to offer diverse JPMiles earning opportunities across 10 plus categories to our members."
Jet Airways on Wednesday suspended all its operations, international as well as domestic, with immediate effect as its lenders refused to consider its request for urgent interim funding.
The last flight of Jet Airways will operate at 2220 IST on Amritsar-Mumbai route.
"Late last night, we were informed by SBI, on behalf of the consortium of Indian lenders, that they are unable to consider our request for interim funding of Rs 983 crore. Because no emergency funding from the lenders or any other source of funding is forthcoming, it will not be possible for the company to pay for fuel or other critical services to keep the operations," CEO Vinay Dube told employees in a communication.
First Published: IST