Home Business Due to rising dues Jet Airways forced to ground 4 planes

Due to rising dues Jet Airways forced to ground 4 planes

Due to rising dues Jet Airways forced to ground 4 planes

Cash-strap has always been an issue for all the air companies and this time this issue has actually forced down planes by due to their payment issues.

According to recent reports, around four to five planes were grounded at many airports in India on Monday night. Many sources around also reported that almost 20 other flights were being canceled because of the same chaos.

Boeing 737s which is the mainstay of Jet’s operations was reportedly grounded at the Delhi, Mumbai, Bengaluru and Chennai airports.  One of each of these planes were grounded at the following airports as per sources.

Jet Airways has been over a hot topic with all its dealers who have been complaining about their payment delays. After a lot of tension that was building around with the dealers and the airline – to clear all the mess these lessors have now started grounding all their planes which are about to take off because of which the airline had to cancel a lot of their flights.

According to Jet Airways website, the company has mentioned that it has over 123 aircraft in its fleet. A lot of technical issues have been going around in their system because of which there have been some mounting dues to these lessons over the maintenance of organizations.

Sources have also mentioned that the situation might worsen down more hereafter if the fund payments are not made. It is now no new news to us about the Etihad airlines which currently has a 24 percent stake in Jet Airways. Reports also say that this company is about going to roll down their money by increasing their stake shares in the company.

These stakes could bring down the lender issue with their respective banks and convert a big part of their 8,200 crore debt by picking up and keeping a holdover with their new shares. Now we all are hoping and praying that all these sharing take place quickly or else Jet Airways schedule over their flights are going to start getting disrupted due to their ongoing aircraft grounding.

Aniket Tak
About Author
Sr. Business Writer At Industry Journal

Aniket has extensive experience in the field of financial and business analysis and provides a comprehensive and accurate view of market trends. Aniket has practical skills in statistics and numbering, which makes him expertise in the field. He also participates in several surveys and important interviews with industry experts, professionals and various organizations. He is the true adherent of yoga and meditation, which makes him calm personality on the ground.


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