Jet Airways (India) Ltd, currently under liquidation, has successfully sold two wide-body Boeing 777-300ER aircraft for a combined ₹568.17 crore through an e-auction process, significantly above the reserve price, according to a regulatory filing on Tuesday.
The sale was conducted by the airline’s liquidator, Satish Kumar Gupta, following approvals and consultations with the Stakeholders’ Consultation Committee. The aircraft, both based in Delhi, were put up for sale on the insolvency regulator’s e-auction platform BAANKNET in accordance with the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
The first aircraft, bearing registration VT-JET, was sold to Ace Aviation XIV Limited for ₹309.24 crore, nearly 80% higher than its reserve price of ₹171.80 crore. The second aircraft, VT-JEU, fetched ₹258.93 crore against a reserve price of ₹184.95 crore, with Ace Aviation XV Limited emerging as the successful bidder.
Together, the two aircraft had a combined reserve price of ₹356.75 crore, underscoring strong bidder interest in aviation assets despite prolonged stress in the airline sector. Industry observers say such recoveries could provide a meaningful boost to creditor payouts in the long-running liquidation process.
Jet Airways ceased operations in April 2019 and entered liquidation after efforts to revive the airline failed. Proceeds from asset sales are expected to be distributed in line with the waterfall mechanism under the Insolvency and Bankruptcy Code.
The company said the auction outcome has been intimated to stock exchanges for information and record.
