Jet Airways, the National Company Law Appellate Tribunal (NCLAT) affirmed, on March 12, the transfer of ownership of the grounded airline to Jalan Kalrock Consortium (JKC).
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Jalan-Kalrock Consortium (JKC), the entity chosen as the successful resolution applicant for Jet Airways, has requested the Supreme Court’s permission to substitute a ₹150-crore performance bank guarantee with a new financial instrument
The Jalan Kalrock Consortium (JKC), the successful bidder for the revival of the grounded airline, recently injected ₹100 crore into Jet Airways, bringing their total investment in the airline to ₹250 crore.
According to the lawyer representing Ace Aviation, the JKC, in the resolution plan, stated it had no interest in holding back the grounded aircraft of Jet Airways (9W).
On July 28, the Jet Airways (9W) Jalan Kalrock Consortium (JKC) informed the National Company Law Appellate Tribunal (NCLAT) that despite obtaining all the necessary permissions from the government, the Committee of Creditors (CoC) is preventing them from initiating operations.
Ace Aviation, engaged in a pursuit with Jet Airways for acquisition of three Boeing 777, expressed urgency to finalize deal within six months.
Akasa Air (QP), is looking to secure approximately $300 million in structured credit to support its expansion
While Jet Airways endeavors to stage a comeback, some of its aircraft sit idle, covered in dust, as they await their uncertain fate. Each day they languish on the ground, their value steadily diminishes.
The former full-service carrier, Jet Airways is planning to restart its flights in 2024, marking its return five years after its notable collapse.
Jet Airways founder Naresh Goyal has approached the Bombay High Court challenging his arrest. The Enforcement Directorate in connection with the alleged laundering of a Rs 538.62-crore loan given by Canara Bank for the airline.