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Jet Airways' infusion in past quarter at $300 million; stock gains 5%

This included lease incentives and new bank borrowing

Jet's unit costs increased 8.7 per cent while its unit revenue declined 3.9 per cent
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Jet’s unit costs increased 8.7 per cent while its unit revenue declined 3.9 per cent

Aneesh Phadnis Mumbai
Incentives from aircraft lessors helped Jet Airways reduce debt and take care of operating expenses in the June quarter, the airline management told analysts in a post-results conference call.

The airline said it had an infusion of $300 million (Rs 20.9 billion); this included lease incentives and new bank borrowing. It did not specify the amount of lease incentives but  sources said it was over $200 million. The airline has entered into sale and lease-back arrangements for at least 20  Boeing 737 Max planes and has a total of 225 on order. Deliveries began from June. 

Deputy Chief Executive Officer Amit Agarwal

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