Troubled Indian carrier Jet Airways has grounded four aircraft after reportedly failing to make payments to lessors.

India’s second-largest airline by market share did not name the leasing firms involved, nor clarify whether the groundings were voluntary or forced, according to Reuters.

Jet Airways has a fleet of mainly Boeing 737s sourced from more than 20 lessors.

Jet Airways said in a statement to the Bombay stock exchange yesterday: “The company is making all efforts to minimise disruption to its network due to the above and is proactively informing and re-accommodating its affected guests.”

Jet Airways, with debts of about $1.4 billion, has been hit by price competition, rupee depreciation and high oil costs.

The airline, which controls a sixth of India’s aviation market, owes money to banks, vendors and lessors.