Jet Airways Grounds Two-Thirds of Fleet after Financial Turbulence

According to Bloomberg, Jet Airways India has been forced to ground two-thirds of its fleet because it has not been able to pay its lessors.

Bloomber reported the airlines’ woes have resulted in a missed bond payment, along with the plane grounding which will remain until the company can restructure its debt.

Bloomberg added speculation on the company’s fate remains rampant, with reports suggesting India’s government has requested bank bailouts running alongside stories that one of Jet’s major stockholders is looking to sell off its stake in the business.

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