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.
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.
|Aircraft||Current registration||Previous registration on delivery in 2007/8||Owner||Lessor||Notes|
|A330-200||VT-JWW||VT-JWK||MOORGATE AIRCRAFT 2007 LIMITED||MOORGATE AIRCRAFT 2007 LIMITED|
|A330-200||YU-ARA||VT-JWJ||MOORGATE AIRCRAFT 2007 LIMITED||MOORGATE AIRCRAFT 2007 LIMITED||Leased to Air Serbia by Jet Airways|
|A330-200||VT-JWV||VT-JWM||FLEET IRELAND AIRCRAFT LEASE 2007-A LTD||FLEET IRELAND AIRCRAFT LEASE 2007-A LTD||no engines|
|777-300ER||VT-JET||VT-JEA||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED|
|777-300ER||VT-JEV||VT-JEB||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED|
|777-300ER||VT-JES||VT-JEC||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED|
|777-300ER||VT-JEU||VT-JED||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED|
|777-300ER||VT-JEW||VT-JEE||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED||Impounded at Amsterdam due to non payment of dues|
|777-300ER||VT-JEM||VT-JEF||WILMINGTON TRUST COMPANY||FLEET IRELAND AIRCRAFT LEASE 2007-B LIMITED|
|777-300ER||VT-JEX||VT-JEG||JIHB LIMITED||JIHB LIMITED||Grounded at Chennai since September 12, 2018|
|777-300ER||VT-JEH||VT-JEH||JIHB LIMITED||JIHB LIMITED|
|777-300ER||VT-JEQ||VT-JEJ||BISHOPSGATE AIRCRAFT 2008 LIMITED||BISHOPSGATE AIRCRAFT 2008 LIMITED|
|777-300ER||VT-JEK||VT-JEK||JIHBTWO LIMITED||JIHBTWO 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.
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.
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?