ICRA upgrades Jet Airways’ loan rating to ‘C’

18 Sep 2014

Credit rating agency ICRA has upgraded India’s premier international airline Jet Airways (India’s) loan rating to ‘C’ from ‘D’ citing the regularization of debt servicing obligations by the airline company for the last three months.

Earlier on 23 August, ICRA had downgraded long-term fund-based bank facilities of Jet Airways worth Rs 3,210 crore citing delays in debt servicing by the company.

Jet Airways currently operates a fleet of 113 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 72 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.

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