Mumbai

Jet Airways grounds 4 more planes for non-payment of lease rentals

New Delhi: Cash-strapped Jet Airways Monday said it has grounded four more planes, taking the number of aircraft that are non-operational due to non-payment of lease rentals to 41. Grappling with financial woes, the carrier has been looking at ways to raise fresh funds. “… an additional four aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements,” the airline said in a filing to the stock exchanges.

As mentioned earlier, the company is actively engaged with all its aircraft lessors and regularly providing them with updates on the efforts taken to improve the liquidity, it said.

“Aircraft lessors have been supportive of the company’s efforts in this regard,” it said, adding that all efforts are being made to minimise disruption to its network.

Meanwhile, the shares of the company closed at Rs 237, up 0.87 per cent on the BSE. During the day, it touched a high of Rs 238 and a low of Rs 233.40. At the NSE, the shares closed 0.68 per cent higher at Rs 236.75. Earlier this month, Jet Airways Chairman Naresh Goyal said that more than 50 of its aircraft were not operating.

As per its website, the airline has a fleet of 119 planes. “The payment of interest due on March 19, 2019, to the debenture holder will be delayed owing to temporary liquidity constraints,” it said in a separate filing.

Article source: https://www.freepressjournal.in/business/jet-airways-grounds-4-more-planes-for-non-payment-of-lease-rentals/1484560

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