Jet Airways grounds more aircraft as restructuring talks continue

Jet Airways has grounded more aircraft because of lease payment defaults, as the carrier remains in financial limbo awaiting a restructuring deal. The airline issued another update on its grounded aircraft total, its 11th such update since early February. It added 4 more to the total, which is now more than 40. As of the end of December, Jet had 123 aircraft in its operating fleet, according to its latest earnings report. The airline also said it will default on an interest payment due March 19. In a stock exchange filing, Jet said this payment “will be delayed owing to temporary liquidity constraints.” It has previously defaulted on other debt payments. Negotiations appear to be continuing between Jet’s major creditors and stakeholders about plans to refinance the troubled airline. <br/>