Jet Airways says it has not finalised deal to lease aircraft from any lessor yet

Jet Airways has not yet finalised or entered into any arrangement
related to aircraft, the airline clarified in a response to the Bombay Stock Exchange on October 6.

The airline's statement comes after multiple publications over the last week reported that the airline has entered into a lease agreement with Dublin-based lessor Avolon to lease A320 aircraft.

Denying the reports the Jalan-Kalrock consortium said that while it is allowed to explore opportunities in the market, considering the regulatory framework of the aviation sector, there should not be any reason for relying upon reports to confirm whether it has finalised a deal to lease aircraft.

"The process of taking decisions related to aircraft/ fleet etc. have regulatory considerations requiring each and every aircraft to be registered with Indian aviation authorities and such actions will not be taken without proper compliance by the Company," the airline said.

The consortium added that neither Jet Airways nor its authorized representatives have made any media or public statements in relation to a future fleet of aircraft or lease.

Jet Airways has been looking to restart its operations by November this year but has been struggling with payment to its lenders.

Lenders led by the State Bank of India (SBI) who had approved the resolution plan by the consortium in October 2020 have asked the Jalan Kalrock Consortium to distribute proceeds from aircraft rentals that Jet Airways receives among financing banks.

The resolution plan for the revival of Jet Airways was finalised in October 2022 and the plan's implementation was conditional on the validation of Jet Airways' air operator's permit, approval of the business plan and the approval to re-allot all suspended slots including bilateral and air traffic rights to Jet.