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Jet Airways News -- Part 15
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747-237
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PostPosted: Sat Jul 06, 2019 11:12 am    Post subject: Reply with quote

https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/nclt-stalls-deregistration-of-jet-aircraft/articleshow/70094386.cms

NCLT stalls deregistration of Jet Aircraft

Jul 05, 2019

The bankruptcy court on Friday stalled deregistration of a Jet Airways aircraft by the aviation regulator, bringing some relief to the grounded airline currently undergoing insolvency proceedings.

Irish lessor Fleet Ireland Aircraft Lease had appealed for the deregistration of a Boeing 777 plane earlier this month, citing that the cash-strapped airline had defaulted on lease payments. The resolution professional for Jet Airways objected to it.

National Company Law Tribunal (NCLT) in its order said it would issue notices to the Directorate General of Civil Aviation and the lessor to appear before the court on July 19. Until then the deregistration would be stalled.

NCLT had in June admitted a plea from Jet's top lender State Bank of India on loan repayment defaults by the airline, and appointed Ashish Chhawchharia of Grant Thornton as resolution professional (RP) to carry out the insolvency process.

RP would take stock of all claims from Jet's creditors, including its employees who haven't been paid since January, and try to find it a new investor. That failing, the company would go into liquidation.

In his objection to Fleet Irelandís appeal, the counsel for RP said deregistering one aircraft would encourage other lessors to file similar applications. This would affect Jet's valuation. Also, the airline needs to have at least five planes in its fleet to retain its flying permit. Jet currently has 14 planes in its fleet, down from its peak fleet size of 124 last December.

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747-237
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PostPosted: Wed Jul 10, 2019 8:09 am    Post subject: Reply with quote

Two more former Jet Airways A330-300s, VT-JWR & VT-JWU have been ferried out of DEL today.
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747-237
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Joined: 11 Jun 2007
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Location: Gordon Gekko's Boardroom

PostPosted: Thu Jul 18, 2019 9:21 pm    Post subject: Reply with quote

747-237 wrote:
One of the former Jet Airways 777-300ER, VT-JEQ (& VT-JEJ before that) parked at BOM, has now received new (Austrian) registration as OE-IIJ.

VT-JEJ -> To Gulf Air as VT-JEJ -> To Thai as HS-TKJ -> To Jet Airways as VT-JEQ -> To ? (after collapse) as OE-IIJ


VT-JEQ, now OE-IIJ, has finally been ferried out of BOM today.
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