Jet Airways denies being told to ground aircraft
Story highlights
Earlier in the day, media reports said that Jet had been asked by GECAS, the aircraft financing and leasing business of General Electric Co, to ground at least five Boeing 737 planes due to non-payment of dues.
Debt-laden Indian carrier Jet Airways on Wednesday denied its aircraft had been grounded by GE Capital Aviation Services (GECAS) after media reports raised further concerns over the airline's ability to pay dues.
Jet's troubles have been worsened by a rising debt-pile, amid intense competition in the Indian aviation sector and higher oil prices.
In the latest effort to save itself, the airline will now seek shareholder approval next month to convert existing debt into equity.
trending now
)
Israel-Hamas war: Gaza death toll mounts to 17,770 as heavy fighting continues
)
In 'Jurassic Park' style, extinct Dodo to be revived. Scientists say...
)
IND vs SA T20I Series: Suryakumar Yadav dismisses ODI World Cup hangover, says 'Australia win was big boost'
)
Scientists find a 'unique' way to keep spacecraft safer than they ever were
)
IND-W vs ENG-W T20I Series: England overcome Indian fightback to secure four-wicket win, lead series by 2-0
)
World’s oldest disease-causing species found: It’s 407mn-year-old fungus
)
Azerbaijan all set to host COP29 climate summit next year after receiving regional backing
)
AI's dark world: Apps misuse tech for undressing women in photos, gain popularity
)
Using smartphone for over 4 hours a day linked to high stress, suicidal thoughts: Study
)
PM Modi dominates Global Leader Approval ratings, tops the chart with impressive 76 percent
)
Premier League: Mohamed Salah's 200th Liverpool goal inspires fightback to beat Crystal Palace
)
North Korea boasts of satellite capability, warns to launch more soon
)
Top 10 world news: Latest from Israel-Hamas war, China-Taiwan tussle breaks out in COP28, and more
)
Israel-Hamas war LIVE: Hamas calls on UN Security Council to end Gaza's 'brutal' war
)
Explained: Putin, presidency and elections — the ruling Russian trio of convenience
Earlier in the day, media reports said that Jet had been asked by GECAS, the aircraft financing and leasing business of General Electric Co, to ground at least five Boeing 737 planes due to non-payment of dues.
Jet said in its statement that it had not ground any aircraft due to a notice from GECAS.
The airline is in the process of delivering three aircraft to lessors due to the scheduled expiry of lease terms, it said in a statement.
Jet added that three of its aircraft were temporarily grounded for engine normalization, which is expected to be completed by Friday. Two others were on ground - one for scheduled termination of the engine's lease and another for technical reasons.
Jet Airways on cancellation of its 4 flights on January 28: The cancellations were due to scheduled termination of an aircraft lease & to carry out an engine normalization exercise. The aircraft temporarily grounded are expected to rejoin operations from February 1. pic.twitter.com/WihDD5cCWs
— ANI (@ANI) January 30, 2019
Crisis talks between the airline and its lessors had failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter told Reuters earlier this month.
Meanwhile, Abu Dhabi-based Etihad Airways, Jet's second-largest shareholder, is now in talks with creditors for a deal that could help the airline back on its feet.
