edealinfo wrote:avier wrote:US Exim Bank moves DGCA to de-register 6 Boeing 777-300ER's of Jet.
The link below provides details of the repossession plan. It also has some interesting facts:
"The US Exim Bank is likely to give the planes to Air India for preventive maintenance. Air India already houses one B777 aircraft from Jet’s fleet at its maintenance, repair and overhaul (MRO) facility in Nagpur facility. Under preventive maintenance, checks like turning engine on-off for some time are conducted daily”.
https://www.financialexpress.com/indust ... a/1605949/
I think EXIM Bank is making a ginormous mistake by keeping the deregistered 77w aircraft in India where it will be subject to Indian laws. Any attempt to sell the aircraft could potentially be stalled by Indian courts because EXIM stands to gain 90 percent of the sales proceeds as profit (the remaining 10 percent is the amount outstanding on the loan). EXIM, per their loan contract, can rightfully retain 100 percent of the sales proceeds on default .....but do you think Indian courts would allow a pforeign organization to walk away with that kind of profit especially when Indian banks have lost $$$$$$$$ on Jet???
EXIM..... get those planes out of India now or The planes will meet the same fate as Vinod Dube (stuck in India indefinitely with no end in sight.....,...Indian bureaucracy can take its own sweet time.......remember Jet is being investigated for sources of funding a whopping 25 years earlier )