NCLT Dismisses Jet Airways' Plea for $92 Million Refund from Boeing

The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed Jet Airways' plea for a $92.129 million refund from Boeing over undelivered aircraft.

Jet Airways, which is in liquidation, had paid Boeing as advance and pre-delivery payments for Boeing 737-8 and Boeing 787-9 aircraft in 2013. However, the planes were never delivered.

The tribunal held that the dispute revolved around the parties' aircraft purchase agreements and could not be adjudicated under the Insolvency and Bankruptcy Code (IBC). The NCLT observed that the dispute centred on the agreements between Jet Airways and Boeing and required examination of the contracts, evidence, and questions of law and fact.

The tribunal noted that Boeing's claim had been admitted during the insolvency process and was later increased due to currency fluctuation. However, it held that whether Boeing was entitled to retain or adjust the advance payments depended on the terms of the purchase agreements.