From a fleet of over 120 aircraft, Jet Airways now has just 12 remaining. In the latest part of the bankruptcy process, Expressions of Interest have been sought from prospective investors. The EOI invitation included details of Jet’s remaining assets, which as well as 12 planes, include landing slots which could be reallocated back to the carrier, as well as the valuable Jet Privilege loyalty program.
Jet Airways was grounded on April 17th when they finally ran out of cash. Despite efforts to secure new investors and to raise funds for the airline, talks failed, and they could no longer fly. Although the airline is yet to formally declare itself bankrupt, creditors have invoked the process and filed an insolvency petition with India’s National Company Law Tribunal (NCLT).
This means that the carrier is now undergoing formal disposal, which has seen many of its assets sold, repossessed or given away, ranging from airport slots to staff to aircraft. Now, the collective Jet Airways is nothing but a shell of its former self, with hopes of a last-minute rescue attempt looking increasingly unlikely.
At its height, Jet Airways operated 124 aircraft, with a further 227 on order. Today, what’s left of that fleet is less than 10%, at just 12 aircraft. The remaining aircraft include three Boeing 737s, which are the only aircraft still owned by the carrier. The other nine are all leased, consisting of three A330s and six 777s.