{"id":46557,"date":"2023-09-23T20:01:25","date_gmt":"2023-09-23T14:31:25","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=46557"},"modified":"2023-10-26T12:57:08","modified_gmt":"2023-10-26T07:27:08","slug":"jet-airways-new-update-jkc-infuse-100-crore-in-airline","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2023\/09\/23\/jet-airways-new-update-jkc-infuse-100-crore-in-airline\/","title":{"rendered":"Jet Airways New Update: JKC Infuse 100 Crore in Airline"},"content":{"rendered":"\n

MUMBAI-<\/strong> The Jalan Kalrock Consortium (JKC), the successful bidder for the revival of the grounded airline, recently injected \u20b9100 crore into Jet Airways<\/a>, bringing their total investment in the airline to \u20b9250 crore.<\/p>\n\n\n\n

In a separate development earlier this month, Jet Airways founder Naresh Goyal was remanded to 14 days of judicial custody in connection with a \u20b9538 crore bank fraud case, as reported by news agency PTI<\/em>.<\/p>\n\n\n\n

\"The
Photo: Siddh Dhuri\/ Mumbaiplanes. Follow him on Instagram<\/figcaption><\/figure>\n\n\n\n

Jet Airways New Update<\/h2>\n\n\n\n

After extensive questioning at the central agency’s Mumbai office, the Enforcement Directorate (ED) arrested Goyal on September 1 under the Prevention of Money Laundering Act (PMLA).<\/p>\n\n\n\n

Goyal, aged 74, appeared before the court after concluding his ED custody. The court placed Goyal in judicial custody as the investigative agency requested no further custody.<\/p>\n\n\n\n

Goyal has been accused of transferring funds from India to overseas locations by establishing various trusts and using them to acquire properties. <\/p>\n\n\n\n

The money laundering case is linked to an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita, and several former company executives. This FIR is related to an alleged \u20b9538 crore fraud case involving Canara Bank.<\/p>\n\n\n\n

The FIR was lodged based on a complaint from the government lender, which claimed it had granted credit limits and loans totaling \u20b9848.86 crore to Jet Airways (India) Ltd, of which \u20b9538.62 crore remained unpaid. Jet Airways, a financially troubled airline, has not operated flights since April 2019.<\/p>\n\n\n\n

\"The
Photo: avgeekwithlens\/ Harsh Tekriwal<\/figcaption><\/figure>\n\n\n\n

Airlines Loses IATA Code<\/h2>\n\n\n\n

The challenges for grounded airlines Go First and Jet Airways continue escalating as both airlines\u2019 IATA codes were revoked due to their non-operational status.<\/p>\n\n\n\n

The two-letter designator codes, G8 and 9W, which are assigned by the International Air Transport Association (IATA), a global trade association of airlines, have been withdrawn for both carriers, reported Financial Express<\/a><\/em>.<\/p>\n\n\n\n

\u201cThe eligibility criteria for an IATA two-letter designator include the requirement that the airline must be actively operating,\u201d stated the head of communications at IATA.<\/p>\n\n\n\n

\u201cGiven that Go First suspended its commercial flight operations in early May 2023, it no longer fulfills the criteria for maintaining the IATA two-letter designator. The situation is analogous for the 9W designator,\u201d he elaborated.<\/p>\n\n\n\n

It\u2019s important to note that the designator and numeric codes are temporarily blocked for 12 months. During this period, the airline can request the designator\u2019s reinstatement if they meet the necessary requirements.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on Telegram Group <\/a>for the Latest Aviation Updates. Subsequently, follow us on Google News<\/a>.<\/p>\n\n\n\n

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Jet Airways Five Boeing 777 to Be Sold: Orders NCLT<\/a><\/blockquote>