Jet Airways likely to lose Boeing 777 fleet as US lender bank approaches DGCA

Grounded Jet Airways could lose its wide-body Boeing 777 fleet as its lender US Export-Import (Exim) Bank has written to the Directorate General of Civil Aviation (DGCA) to de-register the aircraft, people aware of the development said.

Jet possessed 10 B777-300 ER aircraft, which were funded by the Washington-based bank in 2005-06. Six of those Boeing aircraft were given as collateral for the loan. The full-service carrier has remaining liability of around `200 crore towards the official export credit agency of the US. The current list price of new Boeing 777-300 ER aircraft is around `2,600 crore at the current exchange rates.

The full-service carrier shut all operations on April 17 due to a cash crunch. Jet’s domestic lenders headed by State Bank of India (SBI) were contemplating to release the planes by paying the outstanding dues to the US Exim Bank  Read More

You may also read!

Air India passenger? Here’s how you can rebook or cancel bookings made online

All journeys don't always happen the way we plan. Sometimes we have to make some late adjustments, change dates


Air India Bids Adieu to Last Aircraft of Its Airbus A320 Fleet, Thanks Engineers For Keeping it Fit

Air India (AI) grounded its AI 865 aircraft today which marked the end of the 30-year-old classic Airbus 320


India-Pak cricket match incites heavy gun fight at LoC

Indian and Pakistan troops traded heavy fire on the Line of Control (LoC) in Jammu and Kashmir's Poonch district


Mobile Sliding Menu