[NEW DELHI] Some lessors of India's Jet Airways have begun terminating lease deals over unpaid dues and are preparing to move the leased planes abroad, escalating a crisis for the carrier, five sources with knowledge of the matter told Reuters. Read more at The Business Times.
Frustrated by the unpaid dues, Jet's lessors, including many of the world's biggest players such as GE Capital Aviation Services , Aercap Holdings and BOC Aviation have already taken control of some their planes, sources said.Once the planes are deregistered, they can be taken out of the country and leased to other airlines.
The airline provides regular updates on its efforts to improve liquidity to its lessors, who have been supportive, the spokesman said, adding that the company does not comment on specific relationships. Jet's financial troubles have rekindled memories of Kingfisher Airlines' collapse in 2012, which forced lessors to write off millions of dollars.
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