Jet Airways today said it has grounded four more planes and would delay paying interest on maturing debt in a fresh sign of deepening liquidity crisis engulfing the carrier saddled with over $1 billion debt.
India’s second-largest carrier has delayed payments to its pilots, suppliers and lessors for months and defaulted on loans, as it battles intensifying competition, a weak rupee and rising fuel costs.The airline said it will delay paying interest to its debenture holder, due on March 19, owing to financial constraints.
