Jalan Kalrock consortium: Let us tell you that the operations of Jet Airways are closed from 17 April 2019. Jalan Kalrock Consortium (JKC) had emerged as the winning bidder in the debt resolution process.
Jalan Kalrock consortium: Jalan Kalrock Consortium (JKC) announced to invest Rs 100 crore in the closed airline company Jet Airways. JKC announced additional investment under the court-approved resolution plan to restart the airline’s operations. According to the statement issued by JKC, with this the consortium has ‘completed’ the total financial commitment of Rs 350 crore for the revival of the airline.
The date of operation may be announced in the next few days
The company expressed hope that the airline would start operations next year. The date of commencement of its service is likely to be announced in the next few days. Let us tell you that the operations of Jet Airways are closed from 17 April 2019. Jalan Kalrock Consortium (JKC) had emerged as the winning bidder in the debt resolution process. On August 28, NCLAT had given time till September 30 to the Jalan-Calrock consortium to repay the dues of Rs 350 crore to the lenders of the defunct airline.
Expected to start operations in the year 2024
A statement from the consortium said that there has been no change in JKG’s decision to restart the airline. JKG said that its target is to start operations of Jet Airways in the year 2024. An announcement related to its operation is likely to be made in the coming weeks. The consortium had invested Rs 100 crore in Jet Airways last week.
Before suspending operations in April 2019, Jet Airways flew to more than 65 domestic and international destinations with 124 aircraft. The Committee of Creditors (COC) of Jet Airways, led by SBI, had told the Supreme Court that closing the airline would be a better step, because they do not have any kind of funds.