Exclusive: Lessors to Jet Airways plan to de-register many more planes in coming days - sources
NEW DELHI - Lessors to Jet Airways Ltd are planning to ask India’s aviation regulator to de-register many more planes leased to the airline, three sources said, signaling a planned bailout of the debt-laden carrier is failing to assuage their concerns.
This is in addition to the five planes that MC Aviation Partners, a subsidiary of Mitsubishi Corp, applied on Friday to de-register, the source said.While some lessors have already taken their planes out after a mutual agreement with Jet, sources say the latest applications to do so are on a non-consensual basis.
About 100 of Jet’s 119 mainly Boeing planes are leased by companies such as Avolon, GE Capital Aviation Services and AerCap Holdings. Reflecting the overall risk-off sentiment, Indian Oil halted jet fuel supplies to the airline from Friday noon, saying it hopes to soon resolve payment issue with Jet.India is keen to save Jet to prevent thousands of job losses, which could potentially dent sentiment days ahead a federal election in which Prime Minister Narendra Modi seeks to secure a second term.
Some lessors have been skeptical about whether this proposed bailout can clear their dues on time. Several have not been paid for five to six months, a source has told Reuters.
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