INSUBCONTINENT EXCLUSIVE:
Shares of Jet Airways wiped off most of their day’s gains amid media reports that the beleaguered carrier is in advanced stage of
discussions with TruJet to sublease up to seven of its ATR planes to the regional carrier.
The airline is looking to reduce costs and mop up
additional revenues amid cash drought
After rising as much as 3.16 per cent during the day, the scrip, however, closed 0.20 per cent up at
301.05.
These planes are likely to be subleased with its complete crew, maintenance and insurance.
The Naresh Goyal-promoted full service
carrier currently has 15 ATRs in its fleet
TruJet, which started operations in July 2015 has an all ATR fleet.
The deal may be stitched by this month, the source privy to the
development said.
The Mumbai-based carrier had attempted to phase out these regional jets in the past as well.
“Both Jet Airways and
TruJet are in the advanced stage of negotiations on the ATR deal
As per the on-going discussions, TruJet will initially lease seven ATRs from Jet Airways," the source told PTI.
