Jets repossessed from Mexican carrier in omen for airlines

Lessors have taken back at least 27 planes from Mexico’s Interjet, according to a company that tracks leased aircraft, making the airline one of the first to lose a big chunk of its fleet as the coronavirus pandemic torpedoes travel demand. The repossessed Airbus jets have been flown mainly to Arizona and California, said UK-based aviation consultant IBA Group. Interjet, which stopped flying internationally last week, was already contending with a collapse in flying that has buffeted airlines around the world. The blow to Interjet’s fleet points to the next stage in the virus crisis as financially weaker carriers struggle to stay afloat while customers largely stop flying. The carrier was contending with financial challenges long before the outbreak’s spread. And with no government bailout on the horizon in Mexico, Interjet’s future is becoming grimmer, said Bloomberg Intelligence analyst George Ferguson. “It looks like lessors want to get their planes out before they go into default,” Ferguson said. “Interjet is probably not a long-term survivor.” Interjet denied that its planes had been repossessed.<br/>