If the sources are to be believed, stressed carrier Jet Airways may sublease its seven ATR planes to regional carrier TruJet. it's being rumored that TruJet is in the advanced stage of the discussions with Jet Airways and this sublease is to therefore as to reduce prices and mop up extra revenues and money drought.
It is also been said that the planes would be subleased with the complete crew, maintenance and insurance. As of now, Jet Airways closely-held by Naresh Goyalhas 15 ATRs in its fleet.
TruJe, that started operations in 2015, has an all ATR fleet.
Sources aware of the development enlightened deal may get finalized by this month itself. it's also been enlightened that earlier also attempts were created by the Jet Airways to terminate these regional jets.
The source told the press agency PTI that Jet Airways and TruJet are in the advanced stage of negotiations on the ATR deal. As per the present discussions, TruJet can initially lease sever ATRs from Jet Airways.
While Jet Airways said that all the possible alternatives are being evaluated whereas TruJet has confirmed regarding the discussions.
Partially-owned by Gulf carrier Etihad, Jet Airways has been flying into turbulence since the start of this year, has rumored a massive loss of over Rs 1,000 crore in March quarter.
The source said that the sublease period was likely to be for 5 years, and under a wet lease arrangement, adding, “If the deal gets through, TruJet might select a lot of such planes from the airline.”
A spokesperson said in a statement to PTI, “We are working choices to induct up to seven aircraft for short period from Jet Airways.”
Last month, TruJet said that it's aiming to acquire five to seven ATRs and expand the network to twenty additional routes by the end of FY19.
As of now, the Hyderabad-based airline has 5 ATR-72s and it connects fourteen destinations that additionally embrace some under the Centre’s regional connectivity scheme, Udan.
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