Former SpiceJet pilots file a bankruptcy petition over ₹3 crore unpaid dues, adding to the airline’s ongoing financial troubles.
NCLT
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.
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.
On May 25th, India’s National Company Law Tribunal (NCLT) postponed Aircastle’s petition for an insolvency plea against Indian LCC SpiceJet (SG); the new hearing date is June 1st, which is today.
SpiceJet was given notice and instructed to list the case for the next hearing on May 17 by a two-member Principal bench of the NCLT led by President Ramalingam Sudhakar.