Crisis-hit Jet Airways Ltd said on Wednesday it grounded seven more aircraft as the carrier failed to make payments to its lessors, taking the tally of planes hamstrung by the defaults to 13 this month.
With debts of more than $1 billion, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.The loss-making Indian airline approved a rescue deal in mid-February after months of talks to plug an 85 billion rupee ($1.2 billion) funding hole.The plan, which has also been approved by Jet shareholders, includes selling a majority stake to a consortium led by State Bank of India, the airline’s biggest creditor, at 1 rupee.
