Grounded Jet Airways Boeing 777-300ER sells for $12.5 million
A Boeing 777-300ER left parked for more than seven years since Jet Airways stopped flying has been sold for $12.5 million. The Indian carrier shut down in April 2019 after failing to secure emergency funding.
A Boeing 777-300ER that had been grounded for more than seven years has sold for $12.5 million. The aircraft belonged to Jet Airways, the Indian carrier that stopped flying in April 2019 when it could not secure the emergency funding it needed to keep operating.
The shutdown followed years of financial trouble, leaving the airline more than $1.2 billion in debt. At its peak, Jet Airways flew almost 120 aircraft. More than 80% of that fleet was leased, and missed payments led lessors to reclaim many of the aircraft.
Sources
- simpleflying.comWhy A Flyable Boeing 777-300ER Just Sold For $12.5 Million After Being Grounded For 7 Years