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Jet Airways' I Ltd 20 B 737 Aircraft Engines Held in Singapore over UnPaid Dues
Jet Airways' I Ltd 20 Aircraft Engines Held in Singapore over UnPaid Dues
Delays in fundraising and action by lessors could lead to more disruption
As many as 20 Boeing-737 [CFM-56] Engines belonging to Jet Airways I Ltd have been held back by a Maintenance, Repair and Overhaul [MRO] unit in Singapore over unpaid dues. The CFM-56 Engines Power Boeing 737 Aircraft and are stuck at ST Engineering’s MRO for Months. The latter is demanding $130-140 Million [ INR 900-1,000 Crore] in dues be cleared before these are released, industry sources said.
With mounting losses, Jet Air has defaulted on lease and vendor payments. Its lessors are contemplating repossessing the planes they had lent. The MRO development highlights the Airline’s serious cash ...
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