Jet Airways grounds 4 planes after failing to pay lease rent

Cash-strapped Jet Airways said it has grounded four planes from its 123-strong fleet after failing to pay its lease rentals amid debts worth $1.1 billion. Earlier, it was reported that the Mumbai-based carrier accepted a bailout plan from Etihad Airways under which Etihad would increase its stake from 24% to 40%, and Founder and Chairman Naresh Goyal would step down.