Jet Airways's liquidator moves NCLAT seeking ₹872cr refund from Boeing
Business
Jet Airways's liquidator is taking Boeing to the National Company Law Appellate Tribunal (NCLAT), asking for ₹872 crore back for planes that were never delivered.
The tribunal has now asked Boeing to respond within two weeks, and a hearing is set for the first week of December.
Jet Airways's 2013 $92m prepayment contested
This all started way back in 2013, when Jet Airways paid about $92 million up front for new aircraft from Boeing, but those planes never showed up.
Things got messier after Jet went into insolvency in 2019.
While the liquidator says Boeing should return the money since no planes arrived, Boeing maintained that it did not owe Jet Airways any money because the advance payments had already been adjusted against the airline's outstanding dues.