Jet Airways grounded six more planes due to non-payment

MUMBAI: Loss-making carrier Jet Airways Thursday said six more aircraft have been grounded due to non-payment of lease rentals.

With this, the total number of aircraft taken out of operations due to a severe liquidity crunch in the airline and its subsequent failure to pay rentals to various lessors now stand at 19 so far this month, as per the airline.

In a filing to the stock exchanges, the full-service airline said, “An additional six aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements.”

The carrier also said it is making all efforts to minimise disruption to its network due to the grounding of these planes and is “proactively” informing and re-accommodating its affected guests, it said.

Jet Airways also continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard, the airline added. Grappling with financial stress due to four consecutive quarterly losses, the airline is looking to restructure its debt as well as raise funds. Its board and shareholders have already approved a bailout plan by the lenders.

After announcing the grounding of four of its planes on February for non-payment to lessors, the airline took another two aircraft out of operations due to similar reasons. On Wednesday, Jet Airways informed the exchanges that it has grounded seven more planes due to the non-payment of lease rentals.


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