NCLT approves Jalan Kalrock Consortium”s resolution plan for Jet Airways

NEW DELHI: The National Company Law Tribunal (NCLT) on Tuesday approved the Jalan Kalrock Consortium”s resolution plan for the bankrupt-Jet Airways, two years after the once-storied airline went into insolvency proceedings. Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, […]

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DGCA, aviation ministry refuse to give assurance on Jet Airways slots issue

NEW DELHI: Aviation regulator Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation (MoCA) have refused to give any assurance on Jet Airways’ slots issue, in an affidavit to NCLT. In a joint affidavit to the Mumbai bench of the National Company Law Tribunal (NCLT), DGCA and MoCA stated that “slots allocated […]

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Jet Airways engineers’ body files NCLT application for quick resolution

NEW DELHI: The Jet Airways Aircraft Maintenance and Engineers Workers Association (JAMEWA) has filed an application with the NCLT to expedite the insolvency process of the airlines before the end of this month so that it can get ‘summer slots’. According to the application filed on Wednesday, “for summer months the international slots will be […]

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Jalan-Kalrock consortium plans to operationalise Jet Airways by summer 2021

NEW DELHI: The consortium led by Murari Lal Jalan and Kalrock Capital on Monday said that it plans to operationalise Jet Airways by the summer of 2021, subject to certain conditions. Accordingly, the consortium has announced the revival of Jet Airways as a full-service carrier. “The Jet 2.0 programme is aimed at reviving the past […]

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Kalrock-Jalan’s plan for Jet Airways submitted to NCLT

NEW DELHI: The resolution professional of Jet Airways has submitted the successful resolution plan of Kalrock Capital and Murari Lal Jalan for the bankrupt airline at the National Company Law Tribunal (NCLT). Once the the Mumbai-bench of the tribunal gives the go-ahead, the winning consortium of Jalan and Florian Fritsch can pump in funds required […]

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Jet Airways may fly again in 4 months after new management takes over

NEW DELHI: The much-awaited Jet Airways’ resolution is finally heading towards a success, with the resolution plan of Kalrock Capital and Murari Lal Jalan having been approved by the Committee of Crediors (CoC). Now, after the resolution process has been completed and the Kalrock-led consortium takes over the airline, the first task would be to […]

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Jalan-Fritsch resolution proposal wins bid for Jet Airways

NEW DELHI: Jet Airways on Saturday said that the resolution plan submitted by Murari Lal Jalan and Florian Fritsch has won the bid to acquire the airline. The announcement was made by the resolution professional (RP) of Jet Airways, which is under the Insolvency and Bankruptcy Code (IBC) process via a regulatory filing. Ashish Chhawchharia, […]

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Kalrock consortium not declared successful applicant: Jet Airways

NEW DELHI: Jet Airways has clarified that the Kalrock Capital-Murari Lal Jalan consortium has not won the bid for the airline. In a regulatory filing, the resolution professional (RP) of Jet Airways, which is under the Insolvency and Bankruptcy Code (IBC) process, clarified the status. Ashish Chhawchharia, the RP for Jet Airways, said that the […]

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Former Jet Airways CEO Vinay Dube joins GoAir in advisory role

NEW DELHI: Former Jet Airways chief executive Vinay Dube has joined budget carrier GoAir in an advisory role, a source said on Saturday. Dube had quit defunct Jet Airways on May 14, nearly a month after the airline ceased operations due to severe liquidity crisis. According to the source, GoAir wanted to hire him for […]

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NCLT directs Jet Airways lenders to disburse lifeline funds within 15 days

NEW DELHI: The National Company Law Tribunal (NCLT) Wednesday directed the financial creditors of the grounded Jet Airways to release some interim lifeline funds within 15 days. The lenders had in-principle sanctioned Rs 63 crore to the RP and SBI, the lead lender, had reportedly already disbursed its portion of Rs 10 crore. However, other […]

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