Lok Sabha
Elections 2019

#GeneralElection #JetAirways #Earnings

Receive Free News and Updates

SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD JUN 05
MCX SILVER MAY 03
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD JUN 05
MCX SILVER MAY 03
MCX CRUDEOIL MAY 20
MCX NATURALGAS APR 25
USD/INR
EUR/INR
GBP/INR
JPY/INR

Indian markets closed today on account of Good Friday

Asian shares edge up to nine-month high, European, Japan PMIs awaited

Oil prices extend losses despite surprise drop in US inventories

Rupee snaps 3-day fall, opens 12 paise higher at 69.48 a dollar

Aviation

Nearly 40% of Jet Airways' fleet is grounded, say aviation analysts

Updated : March 05, 2019 10:54 PM IST

As many as 46 aircraft of Jet Airways are grounded, as lease payments haven’t come through and no new Boeing 737 Max are being delivered currently, according to aviation expert Ajay Awtaney.

Another aviation expert Ameya Joshi, a columnist for CNBC-TV18.com, said Jet Airways has 40 percent of its 123-aircraft fleet or 47 planes on the ground currently.

Jet Airways has grounded up to 40 percent of its fleet as the cash-strapped carrier failed to make timely lease payments, according to aviation analysts.

As many as 46 aircraft of Jet Airways are grounded, as lease payments haven’t come through and no new Boeing 737 Max are being delivered currently, which has led to aircraft shortage and cancellations, according to Ajay Awtaney, the founder of the Indian frequent-traveller website Live From A Lounge.

"Jet Airways is cancelling flights as aircraft are being grounded due to lack of parts and are being repossessed by lessors. Jet Airways also underwent a network realignment earlier this month which reduced aircraft requirement," according to a February 28 story on Live From A Lounge.

Another aviation expert Ameya Joshi, a columnist for CNBC-TV18.com, said Jet Airways has 40 percent of its 123-aircraft fleet or 47 planes on the ground currently.

Update on #JetAirways groundings
40% of the fleet is grounded

Thanks to collaboration, can keep count of this multiple times a week
B737 36
ATR 9
B777 1
A330 1
Total 47 https://t.co/azdtYJhJ06
Related News
TCS modernises 1.5 lakh post offices under multi-year deal with India Post

Volkswagen rolls out 1-millionth car from Pune plant

India's digital economy to be at $1 trillion by 2025, says McKinsey's Alok Kshirsagar

— Ameya (@khabri_lal) March 5, 2019

Jet Airways, in an exchange filing on Monday, said it grounded two more of its aircraft, taking the total number of planes on the ground to 25. As per the airline, almost 20 percent of its fleet is now out of operations.

However, a report in The Economic Times claimed that Jet Airways has grounded more than a third of its 123-plane fleet at the end of December and is cancelling 100 incremental flights every day. InterGlobe Aviation’s IndiGo has said it will cancel 30 daily flights for the next few weeks.

The two airlines normally operate a total 1,700-2,000 flights daily.

Last week, civil aviation secretary Pradeep Singh Kharola had said flight cancellations by Jet were very high.

“The DGCA is monitoring the grounding of aircraft and flight cancellation which is very high currently,” Kharola told reporters on the sidelines of CII’s Aviation Conclave on Wednesday.

Saddled with a billion dollars in debt, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months. Lessors have grounded more than a dozen of its planes pending payment of dues.

The airline is looking to restructure its debt as well as raise funds as part of a rescue plan, which involves founder-chairman Naresh Goyal stepping down from the board.

In an emotional letter to the airline's employees, Goyal said that he was willing to make “any sacrifice” for them and the airline.

primo org

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

TCS modernises 1.5 lakh post offices under multi-year deal with India Post

TCS modernises 1.5 lakh post offices under multi-year deal with India Post

Volkswagen rolls out 1-millionth car from Pune plant

Volkswagen rolls out 1-millionth car from Pune plant

India's digital economy to be at $1 trillion by 2025, says McKinsey's Alok Kshirsagar

India's digital economy to be at $1 trillion by 2025, says McKinsey's Alok Kshirsagar

Trending on CNBC-TV18

Live TV

recommended for you