New Delhi. The Supreme Court has allowed banks to recover loans by selling the assets of Jet Airways, an Indian airline that has been closed for 5 years, but despite this decision, banks are going to suffer huge losses. The company owes thousands of crores of rupees to many banks including SBI and PNB. Apart from this, many other types of liabilities are also formed on the company. In such a situation, the amount that is being estimated to be received by the banks after selling all the properties of Jet Airways is very less. Therefore, despite this decision, banks may have to suffer huge losses.

According to Moneycontrol, the total book value of Jet Airways' non-core assets in the court document is about Rs 1,066.75 crore. This includes 6 luxury cars, the company's properties in Amsterdam and the price of Boeing 777-35 aircraft, land and other items. This means that by selling the company's properties, the banks will be able to get only about Rs 1,000 crore. Let us tell you that the banks owe about 8 times more than the amount they will get from this company.

Where is the most expensive property? If
all the properties of Jet Airways are evaluated, the most expensive property is a 15,000 sq ft floor in a commercial building in Bandra Kurla, Mumbai. Its price is said to be around Rs 683 crore. Apart from this, the price of Boeing 777-35 aircraft is said to be Rs 376 crore. Apart from this, there is 200 sq m land in Pali worth Rs 22 lakh, 140 sq ft land in Vadgaon worth Rs 15 lakh and 59 sq m land in Daman worth Rs 25 lakh. Apart from this, Maybach 600 luxury car worth Rs 2.39 crore, Mercedes S400 worth Rs 1.27 crore, BMW LD worth Rs 73 lakh and 6 other cars are also included.

How much debt and how much recovery?
You will be surprised to know that the value of Rs 1,000 crore received by selling the total assets of Jet Airways is just 13 percent of the total dues of the banks. Not only this, this amount will be only 6.4 percent of the total claim of liability made against the airline. It is also believed that the bid for the company's assets in the auction will go up to only 50 percent of its total value.

How much is the total amount due on the company?
When Jet Airways was shut down in 2019, its total liability was said to be Rs 15.72 thousand crores. Out of this, the maximum amount due was Rs 7.80 thousand crores to banks, while the operational creditors owed Rs 6.70 thousand crores. Rs 3.35 thousand crores was due for the salaries of employees etc. Rs 816 crore is also due for other work related to the employees of the company.