Asset Sale / Liquidation Update
Jet Airways Aircraft Auction Fetches ₹568 Crore; Liquidation Process Advances
NSE
jetairways
BSE
532617
Jet Airways has successfully auctioned two Boeing 777 aircraft through e-auction, with total highest bids amounting to approximately ₹568 crore, marking progress in the liquidation process.
PRICE-SENSITIVE TRIGGER
Event: Auction outcome of aircraft assets
Type: Asset Sale / Liquidation Update
Impact: Positive
Immediate Effect: Realization of value form assets under liquidation
Key Metrics
- Total Reserve Price: ₹356.75 crore
- Total Highest Bid: ₹568.17 crore
Breakup:
- Aircraft 1:
- Reserve Price: ₹171.80 crore
- Highest Bid: ₹309.24 crore
- Aircraft 2:
- Reserve Price: ₹184.95 crore
- Highest Bid: ₹258.93 crore
Highlights
Total Realization: ₹568 crore
What Happened ?
Jet Airways (under liquidation) conducted an e-auction of two Boeing 777 aircraft through the BAANKNET platform.
The auction was carried out under the supervision of the liquidator and stakeholders committee, and both aircraft received bids significantly higher than their reserve prices.
The successful bidders for the assets include:
- Ace Aviation XIV Limited
- Ace Aviation XV Limited
Key details
Assets Sold
- Two Boeing 777-300ER aircraft
- Located in Delhi
Auction Details
- Conducted via BAANKNET platform
- Transparent e-auction process under IBBI regulations
Financial Outcome
- Strong premium over reserve prices
- Significant recovery value for creditors
Strategic Importance
- Progress in liquidation process
- Unlocking value from idle assets
Risk Analysis
Key Risks
- Remaining asset liquidation uncertainty
- Recovery value vs liabilities mismatch
- Legal and procedural delays
Worst Case Scenario
Lower recovery from remaining assets
Risk Level: Low
Company Commentary
- Successful completion of aircraft auction
- Strong participation and pricing in auction
- Continued progress in liquidation process
Official Exchange Filing: Jet Airways (India) Limited