Naresh Goyal-led Jet Airways is planning to repay its $600-million debt by this fiscal end by way of sale and lease back of some of its aircraft. It has decided to reduce debt to $1.96 billion from the current $2.3 billion. The total debt on the company’s balance sheet stood at Rs 12,000 crore by the end of the September quarter.
The company is going to sale and lease back options in the current quarter in addition to those done in the previous two quarters. This will result in cash surplus and consequentially reduction in the working capital loan as well as lowering of interest cost going forward.
