A Boeing Co. 737 aircraft operated by Jet Airways India Ltd. approaches to land at Chhatrapati Shivaji International Airport in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Jet Airways Grounds Four Planes Over Non-Payment Of Lease Rentals

Jet Airways (India) Ltd. said four of its aircraft were grounded due to non-payment of lease rentals. Faced with acute financial problems, the crisis-hit airline is looking to restructure debt and raise fresh funds.

“The company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity,” it said in a filing to stock exchanges.

The carrier also said it is making all efforts to minimise disruption to its network and is proactively informing and re-accommodating its affected guests.

“The company also continues to provide required and periodic updates to the Directorate General of Civil Aviation in this regard,” the filing said.

On Jan. 30, the airline said it was actively engaged with all its aircraft lessors and are being updated about efforts to improve liquidity amid flight cancellations due to grounding of aircraft.

Referring to the update given on that day, the airline said the three aircraft that were grounded for engine normalisation are back in commercial operations.

As per a press release, Jet Airways Group operates a fleet of 124 aircraft.

Also read: Jet Airways Alters Penalty Framework For Ticket Cancellation