Jet Airways flying just 7 planes amid investor talks

Jet Airways drastically cut back its operations Monday amid talks with investors on purchasing a controlling stake in the debt-laden airline. Jet Airways is currently operating only 7 of its 14 aircraft, and is flying only domestic routes, according to a spokesman. A recovery plan led by govt-owned State Bank of India and other creditors has so far been unable to staunch the bleeding at the airline, which had 119 aircraft Dec 31, when the company first defaulted on some of its US$1.5b in debt. Also Monday, Jet Airways pilots demonstrated in Mumbai after deciding against a strike, saying they had not been paid in 4 months and asking India's govt for a lifeline. "The appeal is to the prime minister to save Jet Airways, to save 20,000-plus jobs which are at stake here, to pay our salaries," said one Jet Airways captain. <br/>