Jet Airways grounds four aircraft due to non-payment of lease rentals

Lauren Eldershaw
By Lauren Eldershaw February 8, 2019 14:54

Jet Airways grounds four aircraft due to non-payment of lease rentals

Jet Airways has confirmed that four of its aircraft have been grounded due to non-payment of lease rentals. “The company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity,” the airline said in a statement to the stock exchange. “The company also continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard,” the filing said.

With losses mounting, the airline is reported to be delaying payments of staff salaries and is awaiting the approval of its desire to convert whole or part of its outstanding debt into equity.

Lauren Eldershaw
By Lauren Eldershaw February 8, 2019 14:54