Two lessors have applied to the Directorate General of Civil Aviation (DGCA), India's aviation regulator, to deregister at least five planes leased to Jet Airways.
India's second-largest carrier, grappling with debt of more than $1 billion, Jet has delayed payments to banks, lessors, vendors and staff
The bank-led interim financing plan envisaged an infusion of Rs 4,000 crore by stakeholders
The Jet Airways' resolution plan has to be put to work this month itself
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The airline has, however, not given the specific numbers of flights it has been cancelling every day due to the grounding of these planes
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The airline has raised foreign currency term loans worth Rs 11 billion and a non-fund based credit facility of Rs 9.50 billion from PNB, according to copies of loan documents reviewed by Indian daily
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The grounding of nearly one-quarter of the Jet Airways' fleet has led to the cancellation of hundreds of flights
The airline has been told to ensure that passengers do not suffer because of flight cancellations, says official of Directorate General of Civil Aviation.
With the grounding of two more planes, almost 20 per cent of aircraft in the airlines fleet are now out of operations
In return, the airline reimburses the amount to other carriers on a fortnightly basis at a pre-agreed rate
Aircraft lessors have been supportive of the company's efforts in this regard, it said.
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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.
So far this month, as many as 13 planes of the company have been grounded on account of non-payment of rentals to lessors