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.
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DELHI- Tata Group-owned Air India (AI) and Vistara (UK) have submitted a merger proposal for approval by their creditors. Creditors are scheduled to vote on this proposal on September 23, as indicated in a notice obtained by ET.
Aircastle (Ireland) Ltd, an aircraft lessor, has declined SpiceJet (SG) Airlines’ proposal to provide shares in lieu of its outstanding payments.
Go First (G8), had a hard time this week as Lessors were allowed to inspect its aircraft engines, failed talks with Delhivery, and more employees resigned from the airline.
Go First (G8) airlines have sought immediate funding of ₹100 crores from its lenders to address pressing financial obligations, including essential liabilities such as insurance.
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 Thursday (July 3, 2023), the Delhi High Court ruled that the concept of scheduled maintenance does not encompass the operation of aircraft, and it prohibited the financially distressed airline Go First (G8) from discontinuing maintenance flights.
According to a press release, Jalan-Kalrock Consortium, the resolution applicant of Jet Airways (9W), successfully obtained the renewal of the Air Operator Certificate (AOC) for Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28.
Over the past five years, a total of seven Indian airlines, including Heritage Aviation and Air Odisha Aviation, have ceased operations, as revealed by the government on Thursday.
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.