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The debt-ridden Jet Airways (India) Ltd informed that seven more aircraft have been grounded due to non-payment of lease rentals. According to the air carrier’s stock exchanges filing, “an additional seven aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements.”
The recent development has taken the toll of the grounded aeroplanes, on account of non-payment of rentals to lessors, to as many as 13 planes. The airliner in its filing said that the carrier is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken to improve its liquidity.
According to the reports, Jet Airways is continuously looking to restructure its debt along with fundraising. Jet Airways in the previous week, on February 23, said that an addition of two planes were held on the ground. This announcement followed the February 7th filing, where the airliner informed that four of its carriers were grounded for the same reason.
Jet Airways on Wednesday also stated that it continues to provide required and periodic updates to the Directorate General of Civil Aviation. The share price of Jet Airways at the time of writing was down by 2.23% to Rs 219.30.
