The airline had informed the stock exchanges on Thursday that it had grounded 19 aircrafts and the additional grounding of 2 more that came on Friday, is likely to impact around 75 flights.

Jet Airways grounds two more aircraft likely to impact 75 flights
Money Aviation Saturday, March 02, 2019 - 11:04

Jet Airways on Friday said that two more aircraft have been grounded, taking the total to 21, over its non-repayment of dues to lessors.

"Further to our letter (February 28), we inform you that an additional two aircraft have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements," the airline said in a regulatory filing on Friday.

"As mentioned earlier, the company is actively engaged with all its aircraft lessors, and regularly provides them with updates on the efforts undertaken by the company to improve its liquidity."

As per the filing, the company continues to provide required and periodic updates to the Directorate General of Civil Aviation (DGCA).

On Thursday, the airline had informed the stock exchanges that it had grounded 19 aircraft. The additional grounding of 2 more that came on Friday, is likely to impact around 75 flights.

Following the persistent groundings, a senior Civil Aviation Ministry official on Wednesday confirmed that the beleaguered airline has grounded a "significant number" of aircraft.

According to the official, the airline did inform the DGCA about the grounding and the regulator is monitoring the situation.

Lately, Jet Airways has been in a tight spot financially even as a rescue plan is being negotiated between the airline, its partner Etihad and a consortium of banks.

On Thursday, some reports suggested that Naresh Goyal will step down as Chairman of the company, which resulted in Jet Airways scrip closing over 5 per cent higher. But the company's filing said: "There is no discussion or decision in the Board which would require a disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."

Analysts said that stocks have surged as Goyal's exit would make way for fresh investment.

"Stocks are gaining as Goyal's stepping down will open up the opportunity for new investors which the company is in dire need of," Saurabh Jain, AVP, SMC Global, told IANS.

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