India’s Jet Airways confirms it has been forced to ground four aircraft because of defaults on lessor payments, as the airline continues to work on a bailout plan.

In a stock exchange statement dated Feb. 7, Jet said the aircraft are grounded because of “non-payment of amounts outstanding to lessors under lease agreements.”

The carrier said it is “making all efforts to minimize disruption to its network” caused by the four parked aircraft. Jet did not divulge what aircraft are affected, or which company they are leased from.

Jet said it is “actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity.” The airline claimed its lessors have been “supportive of the company’s efforts in this regard.”

The admission of the groundings represents a change from earlier statements by Jet. In another stock market filing on Jan. 30, the carrier denied media reports that it had been forced to ground aircraft at the insistence of a lessor.

At that time, Jet said it had grounded some aircraft for other reasons. These included three undergoing engine work, and in its latest statement Jet said these have now been returned to service.

Jet is currently engaged in negotiations with a consortium of bank creditors regarding a restructuring plan and debt-for-equity swaps. Stakeholder Abu Dhabi-based Etihad Airways is also believed to be considering injecting more capital. Jet’s board is scheduled to meet Feb. 14 to approve its financial results for the December 2018 quarter.

Adrian Schofield, adrian.schofield@informa.com