Jet Airways Transfers Mumbai Office Lease Amidst Liquidation

Jet Airways, once a leading Indian airline, announced its agreement to transfer the lease of its Mumbai office to Parthos Properties Pvt Ltd for over Rs 370 crore. This move is part of the ongoing liquidation process the airline is undergoing under the Indian Insolvency and Bankruptcy Code.

The lease transfer requires approval from the Mumbai Metropolitan Region Development Authority (MMRDA), as outlined in the regulatory filing. Jet Airways ceased operations in April 2019 due to financial difficulties, and after lengthy legal battles, the Supreme Court in November 2024 ordered the liquidation of the airline.

The demise of Jet Airways marks the end of an era for a carrier that once boasted over 120 aircraft at its operational peak. Trading in the airline's shares remains suspended. The company's last flight took to the skies in April 2019, symbolizing the closure of a significant chapter in Indian aviation history.

(With inputs from agencies.)