Jet Airways has defaulted payment of interest to its debenture holders even as lessors grounded four more aircraft of the airline.
On Monday, in a filing on BSE, the debt-strapped airline said that it had interest payment due on March 19 towards the debenture holder, however, the payment “will be delayed owing to temporary liquidity constraints.” The airline has in the past two months informed the BSE 11 times of grounding of aircraft by lessors on account of non-payment of dues.
The airline has been debt-strapped for the part three quarters and has a gross loan of Rs. 8,400 crore with State Bank of India being the lead banker. On March 14, BusinessLine had reported that Jet Airways had defaulted on a tranche payment of $31 million to HSBC that was due on March 11.
