Jet Airways (India) Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Jet Airways, which is under liquidation, has sold its two Boeing 777-300ER aircraft (VT-JET and VT-JEU) through an e-auction conducted on the IBBI BAANKNET platform. The combined reserve price was approximately ₹356.76 crore, and the total highest bid received was ₹568.18 crore — a premium of about 59% over the reserve. Aircraft VT-JET (MSN 35157) was sold to Ace Aviation XIV Limited for ₹309.25 crore against a reserve of ₹171.81 crore. Aircraft VT-JEU (MSN 35160) was sold to Ace Aviation XV Limited for ₹258.93 crore against a reserve of ₹184.95 crore. The sale was carried out by the Liquidator in consultation with the Stakeholders' Consultation Committee under IBBI Liquidation Process Regulations. The proceeds will form part of the liquidation estate to be distributed to creditors as per the liquidation waterfall.
For shareholders, this development is largely negative — Jet Airways remains under liquidation, and equity holders are typically the last in the payout priority after secured and unsecured creditors, meaning recovery for shareholders is unlikely. The strong premium over reserve price is good news for creditors as it may improve their recovery ratios, but it does not change the company's status or signal any revival.