Grounded Jet Airways has executed an agreement for the sale of three aircraft frames and six engines to a Malta-based entity for USD 46 million. Jet Airways flew for 25 years before stopping operations in April 2019 due to debt woes and is currently undergoing a liquidation process.
In a filing to the BSE on Wednesday, the airline said it has executed the sale and purchase agreement and related documents for three aircraft frames and six engines. The total value of the deal with Malta-based Ace Aviation is USD 46 million, which translates to over Rs 417 crore at current exchange rates.
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Aircraft frame MSN 35159 – VT-JES, and engines ESN ‘” 906336 and ESN – 906364, will be sold for USD 16 million, while aircraft frame MSN 35158 – VT-JEV, as well as engines ESN — 906353 and ESN -906298 will be sold for USD 12.5 million, according to the filing. Further, aircraft frame MSN 35162 – VT-JEM and engines ESN – 906351 and ESN – 906337 will be purchased by the Malta-based entity for USD 17.5 million. All three frames are of wide-body Boeing 777 planes.
