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

It has been more than seven years since Jet Airways operated its last flight. The Indian airline suspended all operations in April 2019 after failing to secure the emergency funding it needed to continue flying. Years of financial problems left the carrier with more than $1.2 billion in debt, bringing an abrupt end to an airline that had once operated a fleet of almost 120 aircraft. More than 80% of Jet Airways’ fleet was leased, and payment defaults led lessors to reclaim many of those aircraft.