Business Standard

Jet Airways grounds 7 more planes


Press Trust of India New Delhi
Crisis-hit Jet Airways Wednesday said seven more aircraft have been grounded due to non-payment of lease rentals.
So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors.
In a filing to the stock exchanges, the full-service airline said "an additional seven 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.
Faced with acute financial woes, the airline is looking to restructure its debt as well as raise funds.
On February 23, the airline said an additional two planes have been grounded. This followed an announcement made to stock exchanges on February 7 that it has grounded four of its aircraft on account of non-payment of lease rentals.
Jet Airways Wednesday also said it continues to provide required and periodic updates to the Directorate General of Civil Aviation (DGCA).
Shares of the airline closed flat at Rs 224.85 apiece on the BSE.

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First Published: Feb 27 2019 | 8:30 PM IST

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