Jet Airways grounds 2 more aircraft for lease defaults

Jet Airways has grounded 2 more aircraft after it failed to pay their lease rentals. The carrier disclosed the additional groundings in a Feb 23 letter to its 2 stock exchanges. It had previously disclosed that 4 jets were grounded for non-payment of rentals Feb 7, but none of the 6 aircraft have been identified, nor the lessors involved. "The company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity," it adds. It is unclear if the grounded jets will be voluntarily returned to lessors, or if they are subject to repossession orders. The majority of Jet's fleet is leased, with GECAS, Aircastle and BOC Aviation among the most exposed lessors. <br/>