SINGAPORE/BENGALURU: International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said.
The troubles at India’s Jet, which is saddled with a billion dollars in debt, have rekindled memories of Kingfisher Airlines’ collapse in 2012 that forced lessors to write off millions of dollars. Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months.
“There’s some talk that the money is going to come but lessors have heard this for too long,” a leasing source said on condition of anonymity due to the sensitivity of the matter.
