Two more Jet Airways aircraft grounded

Lauren Eldershaw
By Lauren Eldershaw February 25, 2019 16:20

Two more Jet Airways aircraft grounded

In a stock market filing, Jet Airways has confirmed that an additional two aircraft have been grounded due to “non-payment of amounts outstanding to lessors under their respective lease agreements”. This adds to the four aircraft already on the ground, disclosed on February 7 again due to non-payment.

Rumours are swirling that State Bank of India (SBI) may move the National Company Law Tribunal (NCLT) against the airline to recover its loans payments but this has been denied by the bank. The SBI lenders consortium agreed to the conversion of loan into shares during the extraordinary general meeting (EGM) held last week. The airline continues to negotiate with lessors to revise payment schedules.

Lauren Eldershaw
By Lauren Eldershaw February 25, 2019 16:20