You are here: Home » Companies » News
Business Standard

Debt-laden Jet Airways removes two more planes, 21 on ground so far

Aircraft lessors have been supportive of the company's efforts in this regard, it said.

Press Trust of India  |  Mumbai 

Jet Airways

Financially-stressed Friday said two more of its aircraft have been grounded due to non-payment of lease rentals.

With this, the total number of aircraft taken out of operations due to cash crunch in the airline and its subsequent failure to pay rentals to various lessors has gone up to 21 so far.

In a filing to the stock exchanges, the full-service airline said, "An additional two aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements."

The carrier is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken to improve its liquidity, the filing said.

Aircraft lessors have been supportive of the company's efforts in this regard, it said.

The company said it is making all efforts to minimize disruption to its network due to the the grounding of these planes and is proactively informing and re-accommodating its affected guests.

The company also continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard, it added.

After announcing the grounding of four of its planes on February for non-payment to lessors, the airline took another two aircraft out of operations due to similar reasons.

On Wednesday and Thursday, grounded seven and six aircraft, respectively, due to the non-payment of lease rentals.

First Published: Fri, March 01 2019. 22:05 IST
RECOMMENDED FOR YOU