Jet Airways has announced that its wide-body Boeing 777 aircraft under the custody of the Dutch administrator has been sold. In a regulatory filing on Saturday, the airline mentioned that the insolvency process against it the Netherlands now stands concluded after the sale.
The Boeing 777 aircraft was sold to IAGCAS 777, LLC for $9 million under the Dutch Insolvency Process.
The sale of equipment is as per the terms of the protocol, whereunder it is agreed that the proceeds from the sale of equipment will be first utilised for the closure of Dutch Insolvency Process in Netherland, to ensure the company is no more declared insolvent in the Netherlands and balance funds, if any, shall be repatriated to India which shall be dealt as pe…
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