Jet Airways (India) Limited has successfully completed the auction of two Boeing 777-300ER aircraft as part of its ongoing liquidation process. The sale, conducted through e-auction platform BAANKNET, generated proceeds of ₹568.18 crore against a combined reserve price of ₹356.76 crore.

Auction Results and Financial Performance

The liquidation process yielded significant returns above the reserve pricing, with both aircraft attracting competitive bidding from Ace Aviation entities.

Liquidation Process Framework

The asset sale was executed by liquidator Mr. Satish Kumar Gupta through the BAANKNET e-auction platform (formerly eBKray) at ibbi.baanknet.com. The process adhered to Regulation 32 of the IBBI (Liquidation Process) Regulations, 2016, ensuring compliance with established liquidation protocols.

The liquidator worked in consultation with the Stakeholders' Consultation Committee throughout the process, issuing public announcements and Asset Sale Process Memorandum prior to the auction. Both aircraft were based in Delhi and represented significant assets in the airline's liquidation portfolio.

Aircraft Specifications and Asset Details

Both aircraft are Boeing 777-300ER models, representing long-range wide-body aircraft typically used for international operations. The first aircraft (MSN 35157) with registration VT-JET was designated as Asset ID 3751, while the second aircraft (MSN 35160) with registration VT-JEU carried Asset ID 3753.

Regulatory Compliance and Documentation

The auction outcome was formally communicated to both BSE Limited and National Stock Exchange of India Limited on April 8, 2026, maintaining transparency requirements under stock exchange regulations. This communication followed previous intimations dated March 5, 2026, and March 20, 2026, regarding the planned asset sale process.

The successful completion of this auction represents a significant milestone in Jet Airways' liquidation proceedings, converting substantial physical assets into monetary proceeds for stakeholder distribution.

Jet Airways (India) Limited has issued a regulatory filing to correct asset specifications in its public announcement for an upcoming e-auction. The airline, which is currently under liquidation, submitted the correction notice on March 20, 2026, to both BSE Limited and the National Stock Exchange of India Limited.

Asset Description Correction

The company identified an error in the description of an aircraft asset listed at serial number 1 in its previous communication dated March 5, 2026. The corrected specifications provide accurate technical details for the liquidation process.

Regulatory Compliance

The intimation was filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events and information that could impact investor decisions.

The correction notice was digitally signed by Sundaram Ramesh, Chief Financial Officer of Jet Airways (India) Limited, on March 20, 2026, at 16:48:25 IST. The filing ensures that potential bidders and stakeholders have access to accurate asset information for the e-auction process.

Liquidation Process Context

As part of the ongoing liquidation proceedings, the company is conducting e-auctions of its assets. The correction of technical specifications is crucial for maintaining transparency and ensuring that bidders have precise information about the aircraft and its components before participating in the auction process.