Business Standard

Jet Airways grounds more planes, flights cancelled, pilots call off strike

Jet Airways has in the last two months trimmed its fleet by 28 planes and will ground about a dozen more aircraft in March mainly due to non-payment of rentals and lack of spare parts.

Jet Airways
Premium

BS Web TeamAgencies
Crisis-hit Jet Airways Ltd said on Wednesday it grounded seven more aircraft as the carrier failed to make payments to its lessors, taking the tally of planes hamstrung by the defaults to 13 this month.

With debts of more than $1 billion, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.The loss-making Indian airline approved a rescue deal in mid-February after months of talks to plug an 85 billion rupee ($1.2 billion) funding hole.The plan, which has also been approved by Jet shareholders, includes selling a majority stake to a consortium led by

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 28 2019 | 8:28 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com