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Jet Airways 777-300ER sold for US$9 million
September 6th 2021
Jet Airways administrators in The Netherlands have sold a 777-300ER, registration VT-JET, formerly operated by the Indian carrier, for US$9 million. Read More » The proceeds will be used to close the Jet Airways insolvency process in The Netherlands with any balance in funds repatriated to India. The disclosure, in a regulatory filing to the National Stock Exchange of India, said the aircraft was sold to IAGCAS 777 LLC. Jet Airways was declared bankrupt in The Netherlands and insolvency proceedings were initiated against the company in 2019. The Dutch administrator took custody of Jet Airways assets in The Netherlands on the date of initiation of the insolvency proceedings, including the 777-300ER. Jet Airways has not flown since April 2019 due to financial troubles. In June this year, India's National Company Law Tribunal approved a resolution plan from a consortium led by United Arab Emirates-based entrepreneur, Murari Lal Jalan, and Florian Fritsch, the founder of UK-based investment fund Kalrock Capital. The new investors hope to return the carrier to flying by year-end.
