Exercising its powers under Article 142 of the Constitution, the Supreme Court decided to liquidate Jet Airways after noting that JKC had not fulfilled key obligations.
Jet Airways aircraft
Jet Airways’ lenders have alerted the Supreme Court that the Jalan-Kalrock Consortium (JKC) failed to fulfill a crucial condition for ownership transfer.
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
As it prepares for the relaunch, Jet Airways is in talks with aircraft manufacturers and lessors to lease 6–8 aircraft, some of which were scheduled to be delivered to Russian carriers before the Ukraine War.