Supreme Court orders sale and Jet Airways auctions 3 737s
Business
Jet Airways is putting three of its Boeing 737 planes up for auction this Saturday, following a Supreme Court order to liquidate assets.
The planes are parked in Mumbai, Delhi, and Hyderabad, with reserve prices ranging from ₹4.93 crore (for one missing a key engine and APU) up to ₹90.02 crore.
Jet Airways 777s sold for $46 million
Earlier this year, Jet sold three bigger Boeing 777s to Malta-based Ace Aviation for a total of $46 million. They're ready to fly out once certified.
But several other jets are still stuck due to messy ownership disputes over unpaid loans.
If you didn't know: Jet Airways was founded in 1993 but shut down in April 2019 after years of money troubles finally caught up.