Why A Flyable Boeing 777-300ER Just Sold For $12.5 Million After Being Grounded For 7 Years

A Boeing 777-300ER that sat grounded for years with Jet Airways has sold for $12.5 million as part of the carrier’s liquidation. Jet Airways suspended all operations on April 17, 2019 after failing to secure emergency funding, leaving more than $1.2 billion in debt and prompting lessors to reclaim most of a nearly 120-aircraft fleet. Of the widebodies Jet Airways owned outright—five 777-300ERs and several Airbus A330s—three specific 777s (VT-JES, VT-JEV, VT-JEM) were sold in February to Malta-based Ace Aviation, a subsidiary of Challenge Group, under India’s Insolvency and Bankruptcy Code. The NCLT liquidation followed Supreme Court action ordered in November 2024.