Lenders plan to start a bidding process for the private Indian airline on April 9.
XTI Aircraft expects to receive new electric motors for its scale proof-of-concept (POC) TriFan 600 within seven days and is targeting first flight soon.
Some 100 airliners in India sit grounded, not all of them Boeing 737 Maxes.
India's troubled Tejas Light Combat Aircraft program is advancing with an interim improved Mk1A, followed by a much more capable Mk2.
More than a third of the Indian carrier's fleet remains grounded, forcing the cancellation of some 200 flights a day.
India's Regional Connectivity Scheme sets aside 18 routes for seaplane operations.