Jet Airways was forced to ground two more aircraft after it failed to pay the aircraft lessors on 23 February 2019.
The sources closed to Airline said, the aircraft were grounded ahead of moving them out the country, back to international lessors. The airline had previously grounded four jets for non-payment of rentals on 7 February, and in total it has grounded nine aircraft for non-payment.
Airline had leased majority of their fleet from various international lessors, including GECAS, Aircastle and BOC Aviation.
It is not clear, the grounded jets will returned voluntarily or are subject to repossession orders from the lessors.
Lessors are not willing to take risk as they lost a lot when Kingfisher collapsed., and said “We are not convinced with the restructuring plan. This is panning out just like Kingfisher. Banks took control but they never wanted to take a majority stake and run the airline.”
The debt-laden Indian carrier has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.
Jet’s shares plunged 67 percent in 2018, wiping out $1 billion from its market capitalization, and making it the second-worst performer among airline stocks globally.
Source : Newsinflight
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