Wednesday, December 02, 2020

Jet Airways may resume operations in summer of 2021: Report

Jet Airways, which was grounded in April 2019, might resume operations as a full-service airline in the summer of 2021.

The airline will connect European and West Asian cities with Delhi, Mumbai, and Bengaluru, Business Standard reported.

The Kalrock Capital-Murari Lal Jalan consortium, the new owners of Jet Airways, will keep the company listed on stock exchanges, the report said. 

Moneycontrol could not independently verify the story.

The consortium's resolution plan was submitted to the National Company Law Tribunal (NCLT) on November 5.

After the green signal from the NCLT, the resolution plan will require clearances from the Ministry of Civil Aviation (MCA) and industry regulator Directorate General of Civil Aviation (DGCA).

With a Rs 1,000-crore offer, the consortium won the bid for Jet Airways. Other interest bidders included FSTC, Big Charter and Imperial Capital.

On November 3, the Kalrock Capital-Murari Lal Jalan consortium had submitted the performance security bond of about Rs 150 crore.


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