Jet Airways' Remaining Assets Head to Auction as Liquidation Nears Final Stage

Seven years after the airline ceased operations, the remaining assets of Jet Airways will be auctioned this month, another milestone in the liquidation of the erstwhile largest private carrier of India.

Commercial aircraft, aviation components, engineering inventories, catering equipment, office supplies, crew uniforms and company vehicles are among the assets scheduled to be auctioned through July.

The most valuable assets for sale include three Boeing aircraft. Boeing 737-800 has a reserve price of ₹90.02 crore and another Boeing 737-800 has a reserve price of ₹70.64 crore. A Boeing 737-900, which has lost its right engine and auxiliary power unit (APU), has been valued at ₹4.93 crore.

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Assets Auctioned:

The auction also features engineering inventories which should appeal to airlines, maintenance, repair and overhaul (MRO) companies, aircraft lessors and parts suppliers. The lots include usable aircraft parts for Airbus A330, Boeing 777, Boeing 737 NG and Boeing 737 MAX aircraft, such as avionics, wheels, aircraft systems and other reusable aircraft components.

Also included in the sale are engineering consumables, specialised tooling and ground support equipment. Components to be sold in multiple lots at auction include actuators, cabin interiors, in-flight entertainment systems, mechanical assemblies and safety equipment.

Liquidation also covers equipment used in the airline’s daily operation, and aviation assets. Three aircraft meal carts have a reserve price of ₹2.26 crore and catering inventories like cutlery, glassware and service equipment are worth ₹3.19 crore.

The auction also includes crew uniforms, footwear, office stationery and printing materials and a fleet of staff vehicles, including an Audi A6, four Honda City sedans, three Maruti Swift Dzire cars, one Maruti SX4 and a Maruti Eeco. The vehicles have a collective reserve value of close to Rs 40 lakh.

The assets are situated at Delhi, Mumbai and Hyderabad.

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Revival Fails:

The auction comes after years of failed attempts to revive Jet Airways, which grounded its fleet in April 2019 as it battled mounting financial stress before entering insolvency proceedings.

Jalan Kalrock Consortium had received approval for a revival plan in 2021 and was later issued an Air Operator Certificate. But the airline could not resume operations due to prolonged litigation with lenders and delays in implementing the approved resolution plan.

In late 2024, the National Company Law Appellate Tribunal (NCLAT) upheld the liquidation of Jet Airways, saying the consortium failed to implement the resolution plan within the stipulated time, ending efforts to revive the airline.

The sale of the remaining assets is another chapter in the winding down of Jet Airways, which at its peak operated a fleet of more than 120 aircraft and controlled more than one-fifth of India’s domestic aviation market. The airline is now auctioning off aircraft and equipment and operational assets as the liquidation process nears its end.