For the second day in a row, six more aircraft of the debt laden Jet Airways have been grounded on Thursday.
On Wednesday, seven aircraft were grounded due to the non-payment of amounts outstanding to lessors under their respective lease agreements.
The debt-laden airline, along with Etihad Airways, had a meeting with SBI, the lead lender or the airline on Wednesday night. However, according to reports, there was no conclusion on the same.
These delays led to lessors grounding some of the company’s aircraft till the time payments cleared. If that was not enough, pilots have now decided to agitate with a black-band protest which was called off due to the rising tensions between India and Pakistan.
Last week, the Naresh Goyal led Jet Airways had proposed a restructuring plan to its shareholders and other stakeholders at the EGM. About 98 per cent of the shareholders approved the proposals under all five categories however, it’s partner airline Etihad did not vote for the same.
Currently, Goyal owns a 51 per cent stake while Etihad owns 24 per cent. The rest of the shares are owned by public institutions and other shareholders. The airline has gross loans of over ₹8,400 crore, with SBI being its biggest lender. SBI’s exposure is said to be close to ₹2,000 crore.
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