Air India grounds 4 B-777s for lack of funds, looks to lease five of Jet’s

Debt-laden Air India has approached State Bank of India to lease 5 Boeing 777 wide-bodied planes owned by Jet Airways, but 19 of its own aircraft, including at least 4 777s, have been grounded for months due to lack of funds for maintenance of these planes. An Air India official said that the airline was in the process of releasing INR5b to make these planes airworthy. “There are 19 aircraft grounded and these include Boeing 777, Boeing 787, Boeing 747 and Airbus A320s. Some of these aircraft are expected to be back in service by August,” the official said. An official with Air India Engineering Services, the airline’s MRO subsidiary, said the company has been cannibalising some of its new aircraft for parts to keep some of the older aircraft airworthy. <br/>