Jet Airways (9W), the once-prominent Indian carrier undergoing liquidation under a court-supervised insolvency process, has announced the e-auction of three additional aircraft as efforts continue to recover value from the airline’s remaining assets.
Jet Airways Boeing 777
Jet Airways sells three Boeing 777 aircraft to Challenge Group for $46M after insolvency clearance and legal approvals in India.
Jet Airways’ lenders have alerted the Supreme Court that the Jalan-Kalrock Consortium (JKC) failed to fulfill a crucial condition for ownership transfer.
Ace Aviation, engaged in a pursuit with Jet Airways for acquisition of three Boeing 777, expressed urgency to finalize deal within six months.
Jalan-Kalrock Consortium (JKC), the entity chosen as the successful resolution applicant for Jet Airways, has requested the Supreme Court’s permission to substitute a ₹150-crore performance bank guarantee with a new financial instrument
While Jet Airways endeavors to stage a comeback, some of its aircraft sit idle, covered in dust, as they await their uncertain fate. Each day they languish on the ground, their value steadily diminishes.