Thursday, December 20, 2018

Jet to return 8 Boeing 737 aircraft to lessors following cash crunch

Jet Airways is returning eight Boeing 737 aircraft to its lessors and delaying induction of new planes following a cash crunch. The airline has already cut down its network to trim losses. Jet has 123 aircraft in its fleet that has ATR, Airbus and Boeing variants.

Around 10 planes are grounded because of want of spares and maintenance. Several of its lessors have served default notices as the airline has been unable to pay lease rents on time. It has delayed salaries and vendor payments after losing over Rs 25 billion in the first half of FY19.
20/12/18 Business Standard
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