Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Feb 13, 2019 02:09 PM IST | Source: Moneycontrol.com

Jet airways may have to forego its aircrafts on non-payment of dues: Report

The decision by the lessor will be taken after the outcome of Jet airways’ board meeting is revealed on Thursday, February 14

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Troubles for cash strapped Jet airways may not be over yet, as aircraft leasing companies are considering “repossession” of the aircraft for which payments have not been made.

According to a report by CNBC-TV18, MC Aviation, one of the lessors, is looking at repossession of five aircrafts (B737) for which payment has not been made by the company since October.

“This is not the first such instance of delayed payment. The airline had not paid for a long time around 2014 as well,” a source told the channel.

The decision by the lessor will be taken after the outcome of Jet airways’ board meeting is revealed on Thursday, February 14.

The airline, in a statement to the channel, said that the airline has been able to “continuously reach agreements for certain past due payments” and has “long-standing relationship” with most of its vendors.

The airline has posted quarterly loss for three consecutive quarters at Rs 1,297.46 crore (Jul-Sept ’18), Rs 1,323 crore (April-June ’18) and Rs 1,036 crore (Jan-Mar ’18). It will declare its quarterly result for Oct-Dec period on February 14.
First Published on Feb 13, 2019 02:09 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant