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Business News/ Companies / News/  Jet Airways may lease out smaller aircraft to regional carrier TruJet
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Jet Airways may lease out smaller aircraft to regional carrier TruJet

Jet Airways may sub-lease 15 ATR 72-500s and three ATR 72-600s in a phased manner to Hyderabad- based regional airline TruJet

The deal with TruJet may see Jet Airways leasing out six planes in the first phase. Photo: Abhijit Bhatlekar/MintPremium
The deal with TruJet may see Jet Airways leasing out six planes in the first phase. Photo: Abhijit Bhatlekar/Mint

New Delhi: Jet Airways may sub-lease its fleet of ATR planes to regional carrier TruJet and the deal, which is taking its final shape, could be announced in two months, reported Business Standard. Jet has 15 ATR 72-500s and three ATR 72-600s, which are leased from foreign lessors and the deal may see the company leasing out the planes in a phased manner, starting with six planes in the first phase, added the report.

The report cited an unknown source, who confirmed that the deal may see Jet leasing out six planes in the first phase.

The move may help the company earn some cash at a time when the carrier is looking for funds for its fleet induction and expansion plans, it added. TruJet is a regional airline from Hyderabad, Andhra Pradesh.

ATRs are not fitting in with Jet’s Premium Push, as it wants to go big on international flights and hence will start by subleasing the smaller aircraft, said a report in MoneyControl.com.

The move will be beneficial for both the companies, as TruJet plans to focus on regional connectivity under the Ude Desh Ka Aam Nagrik (UDAN) scheme, added the report.

On Tuesday, Jet Airways announced 96 new flights on the domestic network during the monsoon season, including 14 new direct, non-stop flights to small towns under the regional connectivity scheme. This augmentation of domestic services between these cities comes on the back of rising demand for aviation services between these fast-growing cities, reflecting their economic progress.

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Published: 19 Jul 2017, 11:59 AM IST
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