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Jet Airways: all the aircraft fleet grounded

Without an investor, soon the end of the company

Jet Airways aircraft will remain grounded from today until it will be found an investor to take over the majority of the shares of the Indian airline, capable also to inject new funds into the cash necessary to be able to pay the debts incurred over the years, which amount at about 1.2 billion dollars. A stop to the flight operations that will cause a series of inconveniences for passengers, but at the same time will guarantee rival companies to take advantage of the spaces left on the market, so that the low-cost SpiceJet announced that it has ordered 16 Boeing B-737/800 which were leased from Jet Airways (see AVIONEWS).

As for the future of what is one of the major Indian companies, the credit institutions -guided by the State Bank of India (SBI)- are confident that those who will take over the majority of the shares will be found as soon as possible, while -to the local press- the aeronautical and leasing consultancy companies doubt that it will be possible to conclude the deal, especially because the value of the airline is decreasing more and more. Furthermore, the stop to all the activities involves the fact that the rivals will begin to use the slots left empty, reducing the margin of future action for the carrier if it was to resume operations.

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