Full-service carrier Jet Airways has deferred the delivery of six Boeing 737 MAX aircraft due to non-payment of dues to lessors, said people familiar with the matter.

While Boeing has made the deliveries, the aircraft are stuck because Jet Airways has not been able to pay the lessors, sources told CNBC-TV18, requesting anonymity.

Jet Airways, which has been grappling with financial woes, has already received five Boeing 737 MAX planes and was expected to induct six more in the remaining part of the financial year.

The fuel-efficient MAX range of planes was first delivered to Jet Airways in June and the Mumbai-based airline was supposed to take a total of 11 deliveries of this plane in the current financial year.

The airline had ordered 75 MAX planes in 2015. In March last year, the carrier, in which UAE-based Etihad Airways holds 24 percent stake, placed another order for 75 more 737 MAX aircraft.

Then in July 2018, Boeing and Jet Airways confirmed that the Indian carrier placed an order for an additional 75 737 MAX 8 airplanes during a signing ceremony at the 2018 Farnborough International Airshow. The order, valued at $8.8 billion at current list prices, took the total orderbook to 225.

Jet Airways continues to reel under heavy debt burden and has not been able to implement a debt resolution plan so far.

CNBC TV-18 on Wednesday reported that the airline's partner Etihad has written to the State Bank of India (SBI), laying out its plan to increase stake in the airline and infuse funds on the condition that the promoter family's role is significantly minimised.

The airline still has not written a formal letter seeking the intervention of the civil aviation ministry but aviation secretary, RN Choubey, said that informally, the government is aware of the developments and will only make a decision on issues concerning FDI (Foreign Direct Investment) once the airline, lessors and lenders agree on a resolution plan.

"They have to agree on a resolution plan, only after that, they can approach RBI, SEBI, government, DGCA. We will step in if we find that substantial ownership, effective control is being violated... Don't know how long they can sustain themselves but so far a commonly agreed plan of resolution has not come to the government," the aviation secretary said.

Disclosure:

Boeing is one of the four launch partners of CNBCTV18.com.

First Published:Jan 16, 2019 6:13 PM IST