Jet to take 5 aircraft on lease

Jet Airways has executed a memorandum of understanding/letter of intent for taking five planes on lease.

According to a release issued by Jet to the Bombay Stock Exchange on Monday, three aircraft will be leased from South African Airways.

"The first aircraft, Airbus A 340-300E, is expected to be delivered on May 1, 2005. The remaining two aircraft of Airbus will be delivered on May 15, 2005 and June 1, 2005.

The aircraft will be used for international operations," the release said.

Jet will lease two Boeing B 737-700 aircraft from GE Commercial Aviation Services for domestic operations. "The first aircraft will be delivered in August 2005, and the second one will be delivered in May 2007," the release added.