In a significant relief to the lessors of the Jet Airways, Spicejet, India’s second biggest low cost carrier initiated negotiation process with the lessors of the Jet Airways, to lease back the planes they have taken possession from the beleaguered Airline.
This will mitigate the immediate problem for two key entities, the lessors and the Indian Travelling public in the midst of peak summer travel schedule. for the Lessors, the cost of repatriating the planes and lease them back to any airline is a cumbersome process.
- Spicejet operates Boeing family of Aircraft, same as that of Jet fleet.
- with the acquisition of new aircraft, Spicejet can retain its original summer schedule.
- The airline is expected to get quick approvals from the regulator during this Election season
Spicejet had grounded 12 of its 737 Max aircraft, after India’s Regulator ordered the closure of operations and overflying of the troubled aircraft following the deadly crash of Ethiopian Airlines flight in the first week of March, triggering world wide ban on the new generation aircraft from the Boeing’s stable.