Jet gets payment delay notice from lessors

Jet Airways on Wednesday said that it has received notices of payment delays and defaults from few aircraft lessors, adding that it has no dues with the public-sector airport operator Airports Authority of India (AAI) that operates a vast number of the airports in the country.

The full service airline, which is grappling with financial woes, also said it is actively engaged with its lessors and providing them with updates on efforts to improve liquidity.

Jet Airways, which needs to urgently raise cash as a rally in jet fuel prices and a weak rupee have eroded its financial health, posted a standalone loss of Rs 1,323 crore in the June quarter — its worst loss in the past few quarters.

“Whilst the company is in the receipt of notices for payment delays/defaults from few aircraft lessors, they are mindful of challenges currently faced by the Indian aviation industry and they have been supportive of the company’s efforts,” Jet Airways said.

“We also wish to clarify that the company is current on its payments to Airports Authority of India (AAI) and no show cause notice has been received by the company from AAI,” it added.

Referring to the few lessors, the airline said they are mindful of the challenges currently faced by the Indian aviation industry and that they have been supportive of its efforts.