European cargo airline moves NCLT to acquire 3 Jet Airways aircraft

Fresh challenge for reviving Jet as union opposes sale of assets until employees get provident fund and gratuity

A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft.

The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.

The application is a fresh challenge for reviving Jet as an airline union has opposed the sale of assets until employees receive provident fund (PF) and gratuity.

Jet, which shut operations in April 2019, has eleven aircraft including Boeing