Jet Airways denies being told to ground aircraft

Debt-laden Jet Airways Wednesday denied its aircraft had been grounded by 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. Earlier in the day, media reports said that Jet had been asked by GECAS to ground at least 5 Boeing 737 planes due to non-payment of dues. However, Jet said that it had not ground any aircraft due to a notice from GECAS. The airline is in the process of delivering 3 aircraft to lessors due to the scheduled expiry of lease terms, it said. Also, that 3 of its aircraft were temporarily grounded for engine normalisation. <br/>