NCLT Rejects Jet Airways' ₹500 Crore Claim Against Boeing
Jet Airways sought ₹500 crore from Boeing after advance payments were made for aircraft that never materialized. The National Company Law Tribunal (NCLT) rejected the liquidator's plea, stating that determining whether Boeing could retain or set off the advance payments required a full-fledged trial.
The dispute dates back to 2013 when Jet Airways entered into agreements with Boeing for the purchase of 737-8 and 787-9 aircraft. The airline paid $92.13 million in advance, but the planes were never delivered due to non-payment by Jet Airways.
Boeing suspended its obligations under the agreements in May 2019 after Jet Airways failed to make certain payments. After adjusting for currency fluctuations, Boeing's claim stood at ₹873.78 crore during liquidation.