India's Jet Airways in talks to sub-lease aircraft to regional carrier

India’s Jet Airways is in talks to sub-lease nearly half its ATR turboprop aircraft to regional carrier TruJet, in a move that will reduce its presence in the competitive domestic market as the beleaguered airline struggles to raise money. Jet Airways deferred reporting earnings earlier this month, sending its shares to a three-year low. Just days earlier it had told staff it was running out of cash, sources said. TruJet’s commercial head, Senthil Raja, said the company was in talks with Jet Airways to take seven aircraft, manufactured by France’s ATR, on a five-year “wet lease”. He said that he expects to receive the aircraft by the end of October. “Both the companies are deliberating on the agreement and should sign it very soon,” Raja said, adding that he was not aware of how much TruJet would pay for the lease. Jet Airways, which is part owned by Etihad Airways, told Indian stock exchanges it continues to “evaluate all possible alternatives to ensure optimum utilization of its fleet”. <br/>