UPDATE 1-The India Jet is stationing more aircraft while it's looking for access to rescue funds



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* Jet has not yet received bailout funds from the banks

* Airline operating 26 to 28 aircraft on a fleet of 119 aircraft

* Some donors have not been paid for 5 or 6 months (source: addition of details from sources on groundings of aircraft, payments to lessors).

By Aditi Shah and Tanvi Mehta

NEW DELHI, April 3 (Reuters) – The Indian airline Jet Airways has announced that it has blocked more planes after failing to pay lessors, while the indebted carrier – which also owes pilots salaries and crews – strives to secure the funds promised by the state banks.

Last month, Jet was rescued by the State Bank of India (SBI) and other lenders, who will temporarily hold a controlling stake in the airline and extend a new loan of $ 218 million.

However, Jet has not yet received any loans and the employees have not yet been paid for the month of March, said one person with direct knowledge of the matter.

Once the largest full-service carrier in India, Jet's operational fleet was about 26 to 28 aircraft on Wednesday, compared with 119 last year, two sources said.

At least 69 planes have been tied up because of sums due to lessors, Jet told the Stock Exchange, while the others are out of service for maintenance reasons, said one of the sources.

Some landlords with direct knowledge of the issue said that Jet had told them they would pay for the rental and maintenance for a month at the end of last week and that no payment had been received.

They said that when they questioned Jet about the payment, they were only told that the airline was fixing the problem.

"We are already five to six months late and we were promised only one month and even that was not paid. It's very disappointing, "said one of the people, who declined to be identified because of the sensitivity of the issue.

Jet did not respond to requests for comments.

(For an interactive graph on the Jet fleet's grounding, click here tmsnrt.rs/2IdxKb7.)

After the announcement of the bailout, Jet announced to the Indian aviation regulator that it would no longer hit aircraft and fly 40 more airplanes. by the end of April, bringing its operational fleet to 75 aircraft.

But Tuesday night, Jet announced it had immobilized 15 planes, reducing by 4% its stocks at the beginning of Wednesday's session. The title had lost more than half of its value in one year at the close of Tuesday.

With a reduced operating fleet, Jet has given pilots and cabin crew the ability to choose flexible work days and take extended leave with or without pay, a staff note reviewed by Reuters.

Reportage by Aditi Shah and Tanvi Mehta; Additional reporting
by Anshuman Daga to SINGAPORE and Arnab Paul to BENGALURU;
Edited by Muralikumar Anantharaman and Christopher Cushing

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