Court allows Jet Airways to lease out Boeing aircraft
The Bombay High Court allowed Jet Airways to lease out one Boeing aircraft to Turkish Airlines, in addition to three already leased.india Updated: May 19, 2009 20:23 IST
The Bombay High Court on Tuesday allowed Jet Airways to lease out one Boeing aircraft to Turkish Airlines, in addition to three already leased.
Justice Anand Nirude granted permission to Jet to give the aircraft on a dry lease for 25 months.
Jet needed court's permission as earlier High Court had barred the airlines from creating third party rights in its moveable assets, including 40 aircraft, untill its dispute with Sahara India Commercial Corporation Ltd (SICCL) was settled.
Last month also Jet had moved the court seeking permission to send three Boeing-777 aircraft to Turkish Airlines on a dry lease.
SICCL had in March filed a petition, claiming that the Naresh Goyal-owned airline had defaulted on the instalment amount due as payment for acquisition of Sahara Airlines, now JetLite, hence it was liable to pay original deal amount of Rs 2,000-crore and not re-negotiated amount of Rs 1450 crore.
High Court, at the last hearing, asked both the parties to seek out-of-court settlement. Court is expected to give ruling on the Sahara's petition on June 12.