Jet Airways drastically cut back its operations Monday amid talks with investors on purchasing a controlling stake in the debt-laden airline. Jet Airways is currently operating only 7 of its 14 aircraft, and is flying only domestic routes, according to a spokesman. A recovery plan led by govt-owned State Bank of India and other creditors has so far been unable to staunch the bleeding at the airline, which had 119 aircraft Dec 31, when the company first defaulted on some of its US$1.5b in debt. Also Monday, Jet Airways pilots demonstrated in Mumbai after deciding against a strike, saying they had not been paid in 4 months and asking India's govt for a lifeline. "The appeal is to the prime minister to save Jet Airways, to save 20,000-plus jobs which are at stake here, to pay our salaries," said one Jet Airways captain. <br/>
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CDB Aviation has filed applications to deregister 2 Airbus A330-300s operated by Jet Airways, while Castlelake and Orix Aviation have also filed similar motions to take back Boeing 737-800s. Records from India’s DGCA show that the A330s are usually stationed in Mumbai. They are powered by General Electric CF6 engines. They are the first widebody aircraft that a lessor has applied to have deregistered, with most filings to date seeking deregistration of 737s and ATR 72s. The DGCA has 5 working days to deregister an aircraft after receiving the request. After that is completed, the owners then have to gain clearances from airports and govt agencies if they choose to export the aircraft from India, which in some cases may take weeks. <br/>