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

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