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).
Jet Airways 2.0
Ace Aviation, engaged in a pursuit with Jet Airways for acquisition of three Boeing 777, expressed urgency to finalize deal within six months.
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 former full-service carrier, Jet Airways is planning to restart its flights in 2024, marking its return five years after its notable collapse.
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.
The Central Bureau of Investigation (CBI) has taken a significant step in addressing the multi-crore Provident Fund (PF) scam that affected Jet Airways (9W) employees.
Committee of Creditors (CoC) of Jet Airways informed the Supreme Court that it has expended Rs 470 crores since CIRP without any return.
Jet Airways achieved legal triumph as NCLAT dismissed the creditor’s attempt to cash in a bank guarantee worth 1.5 billion rupees.