TruJet in talks with Jet to sublease up to 7 ATRs

Mumbai: Beleaguered carrier Jet Airways is in advanced stage of discussions with TruJet to sublease up to seven of its ATR planes to the regional carrier as it seeks to reduce costs and mop up additional revenues amid cash drought, according to an industry source.

These planes are likely to be subleased with its complete crew, maintenance and insurance. The Naresh Goyal-promoted full service carrier currently has 15 ATRs in its fleet. TruJet, which started operations in July 2015 has an all ATR fleet.

The deal may be stitched by this month, the source privy to the development said.

The Mumbai-based carrier had attempted to phase out these regional jets in the past as well. "Both Jet Airways and TruJet are in the advanced stage of negotiations on the ATR deal. As per the on-going discussions, TruJet will initially lease seven ATRs from Jet Airways," the source told PTI.

While TruJet confirmed its discussions with Jet Airways, the latter said that "it continues to evaluate all possible alternatives".

Meanwhile, Jet Airways on Friday said a meeting of the board of directors will be held on August 27 to consider and approve the unaudited financial results for the first quarter ended June 30. The board of directors of Jet Airways at its meeting held on August 9 had deferred the matter of consideration of the unaudited financial results for the June quarter.