After the 330s, Jet Airways’ Boeing 777-300ER being de-registered

Jet Airways temporarily suspended flight operations from April 17, 2019. Till now, 36 Jet Airways aircraft including 2 A330-300 have been de-registered. Another 14 aircraft are queued up for de-registration. SpiceJet is taking up 22 of these aircraft on lease. Air India is looking to lease (either dry lease or wet lease) 5 Jet Airways Boeing 777-300ER. Air India Express is exploring lease of up to 7 Jet Airways 737 NG aircraft.

Jet Airways 777

Grounded Jet Airways 777 at Mumbai Airport

Of the 14 aircraft that are applied for deregistration, one of them is VT-JEK, a Boeing 777-300ER. All the Boeing 777-300ER are on a finance lease, backed by the US EXIM Bank. A while back, it was reported that Jet Airways has defaulted on their loan payments and the US EXIM bank is exploring repossession of all aircraft.

AircraftCurrent registrationPrevious registration on delivery in 2007/8OwnerLessorNotes
A330-200VT-JWWVT-JWKMOORGATE AIRCRAFT 2007 LIMITEDMOORGATE AIRCRAFT 2007 LIMITED
A330-200YU-ARAVT-JWJMOORGATE AIRCRAFT 2007 LIMITEDMOORGATE AIRCRAFT 2007 LIMITEDLeased to Air Serbia by Jet Airways
A330-200VT-JWVVT-JWMFLEET IRELAND AIRCRAFT LEASE 2007-A LTDFLEET IRELAND AIRCRAFT LEASE 2007-A LTDno engines
777-300ERVT-JETVT-JEAWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED
777-300ERVT-JEVVT-JEBWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED
777-300ERVT-JESVT-JECWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED
777-300ERVT-JEUVT-JEDWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED
777-300ERVT-JEWVT-JEEWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITEDImpounded at Amsterdam due to non payment of dues
777-300ERVT-JEMVT-JEFWILMINGTON TRUST COMPANYFLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED
777-300ERVT-JEXVT-JEGJIHB LIMITEDJIHB LIMITEDGrounded at Chennai since September 12, 2018
777-300ERVT-JEHVT-JEHJIHB LIMITEDJIHB LIMITED
777-300ERVT-JEQVT-JEJBISHOPSGATE AIRCRAFT 2008 LIMITEDBISHOPSGATE AIRCRAFT 2008 LIMITED
777-300ERVT-JEKVT-JEKJIHBTWO LIMITEDJIHBTWO LIMITED

In case if you are wondering about JIHB Limited, BISHOPSGATE Aircraft 2008 Limited, Fleet Ireland Aircraft Lease 2007-B Limited and Moorgate Aircraft 2007 Limited, they are all some sort of Special Purpose Vehicles for the ownership of these aircraft. Several A330s previously operated/owned by Jet Airways were leased/owned by Moorgate.

Jet Airways 777

VT-JWV, Jet Airways A330-200 at Mumbai airport

Talking about VT-JEK, the aircraft is on a mortgage with ING Bank, Singapore. So it is most likely that the Bank pulled the plug. For the rest, I couldn’t find the mortgage status. While this is the first instance of a Jet Airways 777-300ER being de-registered, let see if more 777s are also de-registered. Wilmington Trust Company owns the maximum number of Jet Airways 777-300ERs.

Jet Airways 777

De-Registration request for VT-JEK

If Air India actually wants the 777s operated by Jet Airways, why don’t they just lease it from the trust company or the bank through an SPV, as SpiceJet has leased from directly from the lessors? Or am I missing something?

What are your thoughts about Jet Airways 777 being repossessed?

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