NEW DELHI/SINGAPORE: Some lessors of India’s Jet AirwaysNSE -1.11 % have begun terminating lease deals over unpaid dues and are preparing to move the leased planes abroad, escalating a crisis for the cash-strapped carrier, five sources with knowledge of the matter told Reuters.
Two lessors have applied to the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, to deregister at least five planes leased to Jet, three of the sources said. Termination of lease agreements normally precedes applications made to the DGCA.
