Gulf Air takes four Jet planes on lease

February 24th, 2009 - 8:25 pm ICT by IANS  

New Delhi, Feb 24 (IANS) India’s largest private carrier Jet Airways Tuesday said it has signed an agreement with Gulf Air to lease out four of its B777-300 ER aircraft to the United Arab Emirates (UAE)-based airline.
The wet lease period is six months and three airliners would be handed out to Gulf Air in March and the fourth one in May, Jet said in a statement.

“These steps are being taken under the ongoing route re-structuring and cost-saving programme undertaken by the company,” it added.

Under the wet lease arrangement, operational control and maintenance responsibility will remain with Jet, and its crew will operate the four aircraft.

After six months, the agreement would migrate into a dry lease arrangement, under which only aircraft will be leased out.

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