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Cash Crunch Grounds Two-Third of Indebted Jet Airways' Fleet

  • Jet Air is flying 41 planes, India’s airline regulator says
  • There may be further ‘attrition’ to Jet’s fleet: regulator
Ailing Jet Air Seeks Investor Approval to Swap Debt for Shares
Photographer: Dhiraj Singh/Bloomberg

Jet Airways India Ltd., once India’s second-biggest airline, is flying just about a third of its fleet because its inability to pay lessors is grounding aircraft. The number may drop further, the nation’s airline regulator said.

The company has 41 planes available, according to a statement released by the Directorate General of Civil Aviation after it reviewed Jet Air’s performance in New Delhi Tuesday. The beleaguered airline, which has a fleet of 119 as per its website, has been forced to ground planes as it awaits restructuring of its debt.