Jet Airways crisis deepens; some lessors to fly aircraft out


Some lessors of Jet Airways have begun terminating lease deals over unpaid dues and are preparing to move the leased planes abroad, escalating a crisis for the cash-strapped carrier, five sources with knowledge of the matter told Reuters.

Two lessors have applied to the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, to deregister at least five planes leased to Jet, three of the sources said. Termination of lease agreements normally precedes applications made to the DGCA.

Jet has delayed payments to its pilots, suppliers and lessors for months and defaulted on loans after racking up over $1 billion in debt. Read More

You may also read!

Naresh Goyal in talks with Hindujas to rescue Jet Airways, offers to pay Rs 200 crore in bidding process

Etihad Airways, the Hinduja Group and the London-based AdiGro Group may come together to rescue debt-laden Jet Airways. ET

Read More...

Assam Rifles and Coast Guard sign Charter of Affiliation

The Assam Rifles and the Indian Coast Guard on Wednesday signed a 'Charter of Affiliation' to utilise each other's

Read More...

Iraq calls upon Indian companies to participate in its leading defence exhibition in Baghdad in 2020

The Commercial Attaché at the Embassy of Iraq has invited Indian companies or industries to participate in the defence

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu