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Two more Jet Airways planes grounded over non-payment of lease rentals

New Delhi , Agencies | Updated : 01 March 2019, 08:39 PM
Jet Airways said it is making all efforts to minimise disruption to its network due to the grounding of these planes. (File Photo: PTI)
Jet Airways said it is making all efforts to minimise disruption to its network due to the grounding of these planes. (File Photo: PTI)

Loss-making carrier Jet Airways on Friday said two 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 severe liquidity crunch in the airline and its subsequent failure to pay rentals to various lessors now stand at 21 so far this month, as per the airline.

Earlier on Thursday, Jet Airways had grounded six planes. 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.

Meanwhile, Beleaguered Jet Airways' Chairman Naresh Goyal has stepped down as the lenders gear up to acquire majority stake in the airline under a bailout plan. The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways Chief Executive Officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.

The Gulf-based carrier holds 24 per cent stake in the Mumbai-based full service airline, founded by Goyal 25 years ago.

First Published: Friday, March 01, 2019 08:39 PM
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