MUMBAI: Prepaid forex cards held by staff members of the grounded Jet Airways were "frozen" Wednesday. The cards were given to the Jet staff operating international flights for taking care of the expenses incurred overseas. A senior official at Weizmann Forex, which is a card distributor for Axis Bank and counts on Jet Airways as a client, confirmed some cards have indeed been "frozen". "These transactions on the forex cards are carried outby Jet Airways' forex provider as per the arrangement between the two entities. Jet Airways ceased operations on April 17 after months of financial difficulties and multiple attempts at saving the oldest private sector airliner failed.

Source: Mint May 01, 2019 18:22 UTC