Debt-Hit Jet Airways Grounds More Planes, Taking Total To 41

Dhyann · 发表于 2019-03-18 23:16:36

[p]Jet Airways said on Monday it has grounded four more planes and would delay paying interest on maturing debt in a fresh sign of deepening liquidity crisis engulfing the carrier saddled with over $1 billion debt. [br]

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[p]The country's second-largest carrier has delayed payments to its pilots, suppliers and lessors for months and defaulted on loans, as it battles intensifying competition, a weak rupee and rising fuel costs.

[p]The airline said it will delay paying interest to its debenture holder, due March 19, owing to financial constraints.

[p]Jet did not immediately respond to Reuters' request for comment on payment-related details.

[p]Meanwhile, the airline grounded four more aircraft on Monday, taking the number of planes tied down to 41, or more than a third of its entire fleet.

[div id="checked"][/div][p]Founder and chairman Naresh Goyal, who transformed Jet into India's biggest full-service carrier from its humble start 25 years ago, has said it is charting out a bailout plan, led by state-run banks and Abu Dhabi's Etihad Airways.

[p]An official with State Bank of India (SBI), Jet's largest creditor, said on Friday that a consortium of lenders should reach a final resolution plan to rescue the embattled airline in one week.