Jet Airways Boeing 77W, impounded in Amsterdam, finally sold off, for just USD 9 Million

Erstwhile Jet Airways had a long-haul fleet that was ahead of its time. The airline had invested in 10 Boeing 777 ER aircraft and also put some top of the line products on the plane, which, in some cases, was very heavy and making the aircraft uneconomical when the economy changed.

Jet Airways Boeing 777-300ER

Jet Airways Boeing 777-300ER

Unfortunately, many of these aircraft that Jet Airways owned are stuck at airports all across India, reminding us of the sad state of affairs the airline is undergoing while it is being resurrected. One of these aircraft got stuck in Amsterdam at Schipol Airport a few days before the airline was grounded, as it was impounded for the non-payment of dues to a Dutch party which Jet Airways had been contracted.

As the Jet Airways administration continued at a slow pace, there were two deals talked about. One of them was about Jet Airways’ making a bullet payment of USD 13 Million and acquiring the Boeing 777 aircraft still in its name (it had earlier taken a long-term financing arrangement where they would eventually own the planes. Hence these were not flown away by a lessor earlier).

The second was about Jet Airways’ Amsterdam operations being sold to KLM for a bargain in early 2020. This included all sorts of stuff, including the office space and the aircraft which was parked there. The deal seems to have not gone through as there was nothing about a new 77W aircraft in the KLM fleet, and the pandemic may have played a role in the situation.

Now, Jet Airways has informed that they have sold the aircraft (VT-JEW) for just USD 9 Million to a Florida, USA based LLC called IAGCAS 777, LLC as a part of the bankruptcy proceedings ongoing in The Netherlands. The proceeds will allow for Jet Airways’ insolvency process in the NL to come to a close, and after paying out the Dutch Creditors, if any money remains, it will be sent to India. Here is the communication from the airline in this regard.

The ‘list’ price for a new Boeing 777-300ER is about USD 354 Million, but usually, these aircraft get sold at about 50-60% of the price after customary discounts. Not just that, one needs to pay for all the add-ons inside as well, such as the First Class seats separately. A jet of that pedigree is built for 25-30 years in service, and this one only had 14 years on the clock so far. The poor maintenance record might have depreciated the value even further.

Will VT-JEW fly again?

Maybe not. One of the earlier Jet Airways 777 aircraft, VT-JEK, was flowing out from Mumbai after a year and a half of grounding and was taken to Tulepo, Mississippi. The acquirer intended to part out the airframe. Each component could go on a different 777 aircraft or just be sold. Since this aircraft’s maintenance state, VT-JEW, is unknown (which is a bad thing, perhaps!), this aircraft might also suffer the same fate since the market for heavy jets is not so great right now.

The aircraft has some nice engines, the GE90s, which could fetch a reasonable price after maintenance. But on an overall basis, the meager price the aircraft got sold for also accounts for the fact that it would cost money even to fly the plane perhaps again.

A Boeing 777-300ER belonging to the grounded Jet Airways at Mumbai Airport. You would see even the engines were not covered.


The Dutch administrator has sold off one of their Boeing 77W aircraft parked in Schipol to a US-based company for a paltry sum of USD 9 Million, who will perhaps be able to part out the aircraft or make a surprise decision might even restore it.

As this transaction goes through, we still wait to hear more about the resurrection of Jet Airways in its new ownership?

Liked our articles and our efforts? Please pay an amount you are comfortable with; an amount you believe is the fair price for the content you have consumed. Please enter an amount in the box below and click on the button to pay; you can use Netbanking, Debit/Credit Cards, UPI, QR codes, or any Wallet to pay. Every contribution helps cover the cost of the content generated for your benefit.

(Important: to receive confirmation and details of your transaction, please enter a valid email address in the pop-up form that will appear after you click the ‘Pay Now’ button. For international transactions, use Paypal to process the transaction.)

We are not putting our articles behind any paywall where you are asked to pay before you read an article. We are asking you to pay after you have read the article if you are satisfied with the quality and our efforts.

About Ajay

Ajay Awtaney is the Founder and Editor of Live From A Lounge (LFAL), a pioneering digital platform renowned for publishing news and views about aviation, hotels, passenger experience, loyalty programs, travel trends and frequent travel tips for the Global Indian. He is considered the Indian authority on business travel, luxury travel, frequent flyer miles, loyalty credit cards and travel for Indians around the globe. Ajay is a frequent contributor and commentator on the media as well, including ET Now, BBC, CNBC TV18, NDTV, Conde Nast Traveller and many other outlets.

More articles by Ajay »

Leave a Reply

Your email address will not be published.