Jet to lease 5 aircraft to West Asian airline

Jet Airways is looking at leasing out five aircraft to a West Asian carrier, a deal which is expected to be completed in the next one month or so, K.G. Vishwanath, Vice-President – Commercial Strategy and Investor Relations, Jet Airways, said on Monday. The airline has also leased out two aircraft to Etihad Airways.

The airline has excess aircraft in its fleet as it pulled out of some long haul routes, such as Delhi-Milan, Chennai-Brussels and Brussels-JFK (New York) during the last fiscal. Without getting into specific numbers, Vishwanath said, “The impact of the grounding of these aircraft in this quarter alone is about Rs 122.8 crore.”

Jet also has on order 10 Boeing 787 aircraft and five Boeing 777 aircraft. The airline plans to add one Boeing 737 aircraft a month during this financial year. However, its overall fleet size will only go up by about six aircraft, as five to six of the leased capacity will be returned, Vishwanath said.

“Of the six aircraft being inducted, two will be for domestic operations and four for international business,” he added.

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