Thursday, June 24, 2021

Now that Jet Airways’ revival plan has been cleared, will it have a smooth ride?

The decks have been cleared for India’s oldest private airline, Jet Airways, which has been laden with debt, to fly high again.

In October last year, a consortium of investors, including United Kingdom-based asset management firm Kalrock Capital and United Arab Emirates-based businessman Murari Lal Jalan, took over Mumbai-headquartered Jet Airways that has been grounded since April 2019. 

It is possible that the airline could resume operations by the end of this year, after the National Company Law Tribunal approved a resolution plan by the Jalan Kalrock consortium on June 22. The consortium said that taking Jet back to the skies has been “extremely challenging yet satisfying”.

See what those challenges are >>

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