Jet Airways suspended operations in 2019. Now, it's auctioning assets
What's the story
Jet Airways, once India's largest private airline, is set to auction its remaining assets. The move comes nearly seven years after the airline operated its last commercial flight. The liquidators in charge of the airline's assets have started auctions for a variety of items. These range from passenger aircraft and their components worth crores to office stationery, cutlery, crew uniforms, and even staff cars.
Auction details
Final phase of winding up
The auctions, which will be held through July, mark the final phase of winding up the carrier. Among the most valuable assets are three Boeing aircraft.
The first one, a Boeing 737-800, has a reserve price of ₹90.02 crore while another similar model is priced at ₹70.64 crore.
The third one is a Boeing 737-900 without its right engine and auxiliary power unit (APU), with a reserve price of ₹4.93 crore.
Inventory details
High-value aircraft components
The auction also features engineering inventories that would interest airlines, maintenance, repair and overhaul (MRO) companies, aircraft lessors, and spare parts suppliers.
These include rotables, high-value aircraft components that can be repaired and reused multiple times.
The inventory features universal rotables compatible across multiple aircraft platforms as well as components specific to Airbus A330, Boeing 777, and Boeing 737 Next Generation (NG) and MAX models.
Tooling details
Glimpse into airline's everyday operations
The auction also includes engineering consumables and tooling for A330, B777, ATR72, 737 NG and MAX aircraft.
The lots comprise avionics, actuators, cabin interiors, in-flight entertainment systems, mechanical parts, and safety equipment.
Away from the hangar floor, these auctions give a glimpse into the airline's everyday operations.
Three aircraft meal carts have been valued at ₹2.26 crore while catering inventories including cutlery, glassware, and service equipment carry a reserve value of ₹3.19 crore.
Asset details
Vehicle fleet on offer
The vehicle fleet on offer includes an Audi A6, four Honda City sedans, three Maruti Swift Dzire cars, a Maruti SX4, and a Maruti Eeco. Together they carry a reserve value of nearly ₹40 lakh.
Other assets include engineering ground support equipment, specialized tooling, operator-specific customized items such as seat dress covers, armcaps, and aircraft decals.
The assets are spread across Delhi, Mumbai, and Hyderabad.
Revival attempts
Jet Airways's failed attempts at revival
The sale is another step in Jet Airways's liquidation after several failed attempts at revival.
The airline suspended operations in April 2019 due to a cash crunch and insolvency proceedings under the Insolvency and Bankruptcy Code.
In 2021, Jalan Kalrock Consortium was selected as the successful resolution applicant with plans to revive the airline.
However, it spent years in legal disputes over ownership transfer, payment obligations, and implementation of the approved resolution plan.
Liquidation upheld
NCLAT upheld liquidation in late 2024
In late 2024, the National Company Law Appellate Tribunal upheld the liquidation of Jet Airways.
It ruled that the Jalan Kalrock Consortium had failed to implement the approved resolution plan within stipulated timelines.
The decision effectively ended hopes of reviving the airline as a going concern and paved the way for liquidation of its remaining assets.
The auctions now serve as a reminder of the scale Jet Airways once commanded in the Indian aviation industry.