Mumbai: MC Aviation Partners Inc., the wholly owned aircraft leasing unit of Japan’s Mitsubishi Corp., said it will decide after 21 February on whether to repossess five Boeing Co. 737 planes it has leased to cash-strapped Jet Airways (India) Ltd.
Jet Airways, which has lease rentals overdue with MC Aviation, has convened an extraordinary general meeting of shareholders next week to decide on a proposal to convert a portion of its large debt into equity.
“Jet Airways hasn’t paid dues to MC Aviation Partners since October 2018,” a senior official of the leasing firm said on Wednesday. The official declined to be named.
