Motilal Oswal
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Motilal Oswal
Jan 11, 2019 02:54 PM IST | Aviation

Aircraft lessors to Jet Airways consider reclaiming planes

Jet controls over a sixth of a market experiencing an unprecedented boom in air travel. Yet high fuel taxes, a weak rupee and price competition have squeezed profitability, leaving Jet with Rs 8,052 crore in net debt as at the end of September and defaulting on payments.
Avolon, DAE Aerospace, BOC Aviation Ltd and Aircastle Ltd also attended the meetings along with GECAS and SMBC, one of the people said, declining to specify which are considering reclaiming planes.
Jet, controlled by Goyal, has turned to Etihad for financial help. However, the Abu Dhabi airline is not "in any position to sink new equity into Jet at this juncture," said a person familiar with Etihad's position.
Aircraft lessors to Jet Airways consider reclaiming planes
Published Date: Jan 11th, 2019 02:54 PM | Updated Date: Jan 11, 2019 02:54 PM IST
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