Three B777-300ERs belonging to Jet Airways (JAI, Mumbai International) will be sold to special purpose vehicles (SPVs) controlled by the Challenge Group after a failed appeal to the National Company Law Appellate Tribunal (NCLAT) by the consortium attempting to acquire the airline.

The bankruptcy appeals court handed down its decision in the matter of The Consortium of Murari Lal Jalan & Florian Fritsch vs. Ace Aviation VII Ltd. & Ors on December 22, 2023, after the consortium (JKC) appealed an October order by the National Company Law…

Source: ch aviation
Read more: JKC loses appeal to hold onto Jet Airways' B777s