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.
Jet Airways NCLAT
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.