Jet Airways defers delivery of nine Boeing 737-800s
24 Jun 2009
New Delhi: Jet Airways (India) Ltd has deferred delivery of nine Boeing planes, meant for its low-cost subsidiary JetLite, on account of the current global downturn. Airline officials said the deferment was in line with company policy not to expand capacity this year.
"This deferment is part of our plan of not expanding capacity this year," an unnamed executive has been quoted as saying by media sources. The executive also clarified that the carrier, the country's second largest by market share, would take delivery of just one aircraft this August and the rest in the period 2010-2011 onward.
Officials have also been quoted as saying that the company intended to repay loans worth $150 million to several banks in the current financial year.
Indian carriers are shying away from taking delivery as global economy continues to shrink affecting air travel. According to the Center for Asia Pacific Aviation, a Sydney-based consultancy, Indian carriers have likely posted a combined loss of up to $1.4 billion in the financial year ended 31 March.
So far, Jet Airways has deferred deliveries of eight long-haul Airbus and Boeing planes - five Airbus 330s and three Boeing 777s - to the next financial year.
Its rival Kingfisher Airlines has deferred deliveries of 32 of 48 Airbus A320 planes that were due to arrive in late 2008 and in 2009.
