- Jet Airways sees US$92m Boeing refund bid dismissed
- Mumbai NCLT rules on 11 September 2026
- Dispute involves interpretation of purchase agreements
- Boeing applied payments against larger creditor claim
- Boeing removed 125 B737-8s and ten B787-9s from backlog
A court in India has dismissed Jet Airways liquidator Satish Kumar Gupta’s bid to recover US$92,129,387 in advances and pre-delivery payments made to Boeing for aircraft that were never delivered. The Mumbai bench of the National Company Law Tribunal ruled on 11 September 2026 that the dispute required interpretation of the underlying purchase agreements and involved contested contractual issues outside its jurisdiction under Section 60(5) of India’s Insolvency and Bankruptcy Code.
Gupta argued that the funds formed part of Jet Airways’ liquidation estate. Boeing countered that it had already applied the payments against its larger creditor claim and was entitled to deduct them from amounts owed by the airline. The NCLT did not decide whether Boeing was entitled to keep the payments or deduct them from amounts owed by Jet Airways.
Jet Airways’ audited accounts for the year ended 31 March 2020 recorded INR5bn rupees (US$52.5m) in advances to Boeing and stated the manufacturer had suspended the relevant agreement on 22 May 2019 following Jet Airways’ payment defaults. Boeing subsequently removed 125 B737-8s and ten B787-9s associated with Jet Airways from its backlog.
