Jet Airways’ lenders have alerted the Supreme Court that the Jalan-Kalrock Consortium (JKC) failed to fulfill a crucial condition for ownership transfer.
Jalan Kalrock consortium
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 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.
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.
Jet Airways achieved legal triumph as NCLAT dismissed the creditor’s attempt to cash in a bank guarantee worth 1.5 billion rupees.
On May 22, the National Company Law Appellate Tribunal (NCLAT) reserved judgement in a case brought by Jalan Kalrock Consortium (JKC), the management replacement for Jet Airways.
JKC has expressed its commitment for Jet Airways comeback and is searching for a new CEO to replace Sanjiv Kapoor, who resigned on 28 April.
High uncertainty over India’s Jet Airways (9W) comeback as the Jalan Kalrock consortium (JKC) has less than a month to pay to its creditors.
Jalan-Kalrock consortium owner of Jet Airways has began planning to order 200 aircraft after the National Company Law Appellate Tribunal (NCLAT) declined to suspend the ownership
The Directorate General of Civil Aviation (DGCA) is set to question Jet Airways (India) Ltd about its plans to resume flights, as the private carrier remains grounded nine months after the aviation regulator granted its flying permission.