• Thursday, June 30, 2022

Business

Number of operational planes of Jet Airways falls below 15

The State Bank of India (SBI)-led consortium of lenders had taken over the management of the cash-hit Jet Airways last month (Photo: PUNIT PARANJPE/AFP/Getty Images).

By: Radhakrishna N S

FEWER than 15 Jet Airways aircraft are currently operational, India’s civil aviation secretary said today (3). 

Asked about the beleaguered airline’s active fleet, India’s civil aviation secretary PS Kharola said, “yesterday, it was 28”.    

On the airline informing stock exchanges yesterday (2) evening that 15 more aircraft have been grounded, Kharola said the current fleet “would be less than about 15”.     

The Naresh Goyal founded airline has around 119 aircraft in its fleet. 

The State Bank of India (SBI)-led consortium of lenders took over management of the cash-hit Jet Airways last month.   

In the past few weeks, the airline has been grounding its aircraft in tranches due to non-payment of dues to lessors.         

Kharola, who was speaking on the sidelines of an event, said of the airline’s funding: “The issue is between  bankers and Jet management. So they are discussing with each other.”    

The private carrier on Tuesday (2) said it grounded 15 more aircraft due to non-payment of rentals to lessors.     

Till last month, the Mumbai-headquartered airline, which is now under new ownership, had taken 54 planes out of operations due to lease rental defaults.   

On March 25, Jet Airways’ board approved a resolution plan formulated by SBI-led domestic lenders. 

Under the plan, lenders decided to take control of the airline and make a fund infusion of £166 million.   

Eastern Eye

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