Jet Airways Grounds 4 Aircraft as Leasing Firms Lose Patience With Cash-Strapped Carrier

Jet Airways Grounds 4 Aircraft as Leasing Firms Lose Patience With Cash-Strapped Carrier
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Jet Airways Grounds 4 Aircraft as Leasing Firms Lose Patience With Cash-Strapped Carrier
India’s Jet Airways Ltd has grounded four aircraft after failing to make payments to lessors
The airline, India’s second-largest by market share, did not name the leasing firms involved, nor clarify whether the groundings were voluntary or forced
Jet Airways has a large fleet of mainly Boeing Co 737 jets which it sources from over 20 lessors
Saddled with debt of about $1.14 billion, Jet Airways has been hit by price competition, rupee depreciation and high oil costs
The full-service airline, which controls a sixth of India’s booming aviation market, owes money to banks, vendors and lessors

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