Jet Airways shares drop to 4% after 15 planes grounded due to lease rental faults; fleet down to 20 from peak of 123

Shares of Jet Airways Wednesday fell up to 4 percent after the carrier grounded as many as 15 more planes due to lease rental defaults

Press Trust of India April 03, 2019 13:55:11 IST
Jet Airways shares drop to 4% after 15 planes grounded due to lease rental faults; fleet down to 20 from peak of 123
  • Jet Airways' fleet has come down to just 20 from its peak of 123 through which it used to operate over 650 flights across the country and continents

  • An additional 15 aircrafts have been grounded due to non-payment of outstanding to lessors under their respective lease agreements, Jet Airways had said

  • With this, the number of planes grounded on account of lease rental defaults alone touched 69

New Delhi: Shares of Jet Airways Wednesday fell up to 4 percent after the carrier grounded as many as 15 more planes due to lease rental defaults.

With the latest move on Tuesday, its fleet has come down to just 20 from its peak of 123 through which it used to operate over 650 flights across the country and continents.

Jet Airways shares drop to 4 after 15 planes grounded due to lease rental faults fleet down to 20 from peak of 123

Representational image. Reuters

On BSE, the stock opened on a negative note at Rs 257.80 and further declined 3.90 percent to a low of Rs 254.55.

Similarly, on NSE, the scrip touched a low of Rs 254.40, down 4 percent from the previous close.

"An additional 15 aircrafts have been grounded due to non-payment of outstanding to lessors under their respective lease agreements," Jet Airways had said in a regulatory filing on Tuesday.

With this, the number of planes grounded on account of lease rental defaults alone touched 69.

The domestic pilots union of Jet Airways, National Aviator Guild, has written to aviation regulator DGCA and airline chief executive Vinay Dube, pressing for payment of three months of salary dues along with applicable interest.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.