NEW DELHI | MUMBAI: Jet AirwaysNSE -3.17 % has defaulted on aircraft lease rental payments to MC Aviation Partners since October, but it will watch Jet’s board meeting on Thursday and shareholders’ meeting next week before deciding on taking its planes back, a top executive at the lessor said.
India’s second largest airline by market share has taken five Boeing 737 planes on lease from MC Aviation, a subsidiary of Mitsubishi Corp. “Jet took the planes on lease in 2013,” the executive said, requesting anonymity.
He said Jet exceeded the grace period of five days for each month, but didn’t elaborate on the quantum of rental dues, and clarified that MC Aviation hasn’t sent any repossession notice to Jet yet.
