India’s Supreme Court has dismissed an appeal by the Jalan Kalrock Consortium (JKC) to block the sale of three B777-300ERs from Jet Airways to Malta’s Ace Aviation.
JKC, led by Murari Lal and Florian Fritsch, acquired the rights to buy Jet Airways after its collapse in 2019 and initially intended to relaunch with a new fleet but later faced challenges in concluding the deal and disputes with creditors.
Ace Aviation Group entities signed a deal in 2022 to purchase the parked B777s, paid a deposit of USD5.6 million, and obtained letters of intent. The sale process was paused in 2022, leading to legal disputes between the parties, with the Supreme Court supporting the earlier rulings allowing the sale of the aircraft.
