This would have been another major financial boost for the financially beleaguered airline, which finally concluded its deal with Abu Dhabi-based Etihad Airways PJSC for a 24% stake sale recently.
In its second quarter FY2014 earnings conference call, Jet Airways’ executives had indicated the airline was trying to lease out much of its A330-200 fleet which has been sitting idle at airports across India, as the airline pulled out international flights due to poor performance. The airline lost over 123 crores in fees and costs relating to the non-utilisation of its A330 fleet in the second quarter alone.
However, later in the day, in another report, Reuters said the Kuwait Airways chief, has been suspended, after he had announced plans to buy five used aircraft from India’s Jet Airways. The report went on to quote an unnamed source who said the deal was in doubt.
Talk about bizarre developments.