FLY Leasing CEO: 'we'll take our aircraft back and redeploy' if Jet Airways restructure not approved

11 March, 2019

FLY Leasing CEO Colm Barrington reported the lessor grounded three Boeing 737 aircraft operated by Jet Airways, stating: "We have grounded our aircraft, we have control over our aircraft, but we have not terminated the leases" (Reuters/Economic Times/Live Mint/First Post, 08-Mar-2019). Mr Barrington said Fly Leasing is "waiting for the airline to approve all its restructuring with the State Bank of India" at the end of Mar-2019. He added: "If that goes through at the end of the month, obviously, we will stay with Jet. If they can't get that done, then we'll take our aircraft back and redeploy". As previously reported by CAPA, Jet Airways confirmed it grounded 28 aircraft between 07-Feb-2019 and 07-Mar-2019 "due to non-payment of amounts outstanding to lessors".