Jet Airways, India’s largest private carrier, announced sale-and-leaseback plans for about 10 Boeing 737s by March to enhance cash flows. Funds from the transaction in the next three months will be used to pay down debt, perhaps as much as $133 million, says M. Shivkumar, senior VP-finance.

The new year brings new challenges to India's suffering airline industry with signs of worse things to come. Amid the increasing debt crisis, mounting jet fuel costs, soaring losses and an inability to raise fares in a cut-throat market, airlines in India face the daunting task of protecting their air operator permits and convincing regulators that they meet safety standards at the same time as they are cutting costs.

Several international carriers are threatening to reduce or eliminate service to Indira Ghandi International Airport (IGI) because of a dramatic increase in fees proposed by the facility’s operator, Delhi International Airport Pvt. Ltd. (DIAL)