Two lessors have applied to the Directorate General of Civil Aviation (DGCA) to deregister at least five planes leased to cash-strapped Jet Airways.

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Jet Airways share price fell up to 3.64% to 236.70 compared to the previous close of 245.65 on BSE. Jet Airways share price has been falling for the last two days and fallen 3.49% during the period.

IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.

With this, the total number of aircraft taken out of operations due to severe liquidity crunch in the airline and its subsequent failure to pay rentals to various lessors now stand at 32 so far.

Jet Airways share price opened with a gain of 2.16% at 253.40 on BSE today.

Jet Airways: I now look forward to your support and cooperation in saving the airline by an urgent fund infusion of Rs 750 crore by early next week, he wrote to Etihad.

Under the proposed deal, Goyal would step down as chairman and director of Jet Airways but can nominate two persons to the airline's board.

Jet Airways has a debt burden of more than Rs 8,000 crore and has been looking at various ways to raise funds.

According to report, the lenders to the beleaguered airline, led by State Bank of India (SBI), were not ready to sanction a term loan to the company without gaining exclusive rights on its cash deposits or appreciating assets.

Cancellations by the airline have nearly doubled to 200 per day from 100-odd flights in December, which is approximately a third of the daily schedule of 600 flights.

Jet Airways' lenders have worked out a survival plan. Will it work?

The bank-led resolution plan that entails a debt-to-equity swap is reportedly a temporary structure aimed at giving Jet Airways time to raise equity from investors.

Jet Airways' board approved the debt-to-equity swap resolution plan that will see a consortium of banks led by SBI emerge the largest shareholders with over a 50% stake while promoter Naresh Goyal will see his stake fall to 20-25% .

The Jet Airways share price opened lower at 224.15 and hit  an intra day low of 215 before heading north on the bourses. The Jet Airways share price has lost 68.51% during the last one year and fallen 14.24% since the beginning of this year.