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Crisis-hit Jet Airways grounds 15 more planes, taking total to 69

"An additional fifteen aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," Jet Airways said in a filing to the Bombay Stock Exchange.

twitter-logo BusinessToday.In   New Delhi     Last Updated: April 2, 2019  | 21:09 IST
Crisis-hit Jet Airways grounds 15 more planes, taking total to 69
Jet Airways on Tuesday grounded 15 more planes due to non-payment of lease rentals

Debt-ridden Jet Airways on Tuesday said it grounded 15 more planes due to non-payment of lease rentals, taking the total number to 69.

"An additional fifteen aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," Jet Airways said in a filing to the Bombay Stock Exchange.

The Mumbai-headquartered airline, in the exchange filing, said that it is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the Company to improve its liquidity.

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

Till March, Cash-strapped airline had taken 54 planes out of operations due to lease rental defaults.

As per information available on Jet Airways website, the beleaguered airline has over 119 aircraft in its fleet.

"The company is also making all efforts to minimise disruption to its network due to the above and is proactively informing and re-accommodating its affected guests," said Jet Airways adding that it provides required and periodic updates to the Directorate General of Civil Aviation in this regard.

Also Read: Jet Airways defaults on $109 million loan repayment to HSBC Bank: report

Jet Airways had missed loan repayment to HSBC Bank that was due on March 28, and was part of a two-tranche facility totalling USD 140 million. The company took external commercial borrowing from HSBC in 2014, said a Bloomberg report.

SBI-led domestic lenders who now hold more than 50 per cent of Jet shares are seeking to overhaul the company and salvage. Under the resolution plan, lenders decided to take control of the airline and make a fund infusion of Rs 1,500 crore.

Also Read: Jet Airways pilots defer strike; seek salary by April 14

In a major respite to the ill-fated carrier, its pilots' body, National Aviator's Guild (NAG), on Monday deferred its call for halting operations till April 15. The NAG, which claims to represent around 1,100 of the 1,600 Jet Airways pilots, had announced earlier that its members will not fly from April 1 if their pending salaries were not cleared and clarity on the revival plan not provided by March 31, as per PTI report.

Edited by Chitranjan Kumar

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