Jet Airways, the biggest Indian airline, is looking to rationalize the fleet size to cut costs.
The company told analysts that the airline does not plan to renew leases that expire this year for its aircrafts. The company is also not taking any fresh aircraft delivery this year.
The company management also said that it may limit its fleet expansion this year to about 5 per cent.
Jet Airways has converted wide body Boeing 777s into Boeing 737s aircrafts. When contacted, Jet Airways spokesperson said that the B777-300ER aircraft orders have been converted to 7 B737-800 aircraft for delivery over two years to 2017.
Jet Airways has total 29 aircrafts on order with an option to add five more that scheduled to be delivered from June 2013. These aircraft orders also include 10 Boeing 787s.
The company currently has a fleet of 100 aircrafts, where 60 aircrafts are on lease.
Jet Airways rejigs fleet to cut costs
Jet Airways rejigs fleet to cut costs