Our Bureau

New Delhi, April 18

Jet Airways today informed the BSE that it finalised and concluded the sale and leaseback of five Boeing 737 aircraft in 2005-06.

"The transaction was concluded in respect of three Boeing 737-400 and two B 737-800 aircraft. The details of this transaction would be announced along with the results for 2005-06," it said.

Jet, which plans to purchase 30 aircraft over the next few years, will continue with the sale and leaseback policy in order to maintain a balance of owned and leased aircraft in the fleet, the statement added.

The airline currently has a fleet of 19 owned and 34 leased aircraft.

Meanwhile, Jet will have to decide on another name for Air Sahara as the authorities have rejected two of the names suggested. "The authorities have rejected our proposal to rename Air Sahara as Jet Aviation or as Jet Express," sources said.

(This article was published in the Business Line print edition dated April 19, 2006)
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