Tag: Jet Airways

Jet Airways in ‘advanced discussions’ with Boeing, Airbus for buying aircraft

NEW DELHI: Jet Airways, which is preparing to relaunch operations next year, on Friday said it is in “advanced discussions” with Boeing and Airbus for buying and leasing planes. The grounded airline has been acquired by Murarilal Jalan-Kalrock Capital consortium under the insolvency resolution process. The ongoing discussions are part of the grounded airline’s revival […]

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, […]

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 […]

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 […]

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 […]

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, […]

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 […]

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 […]

Dutch administrator, Jet Airways’ RP agree to cooperate in insolvency

NEW DELHI: The resolution professional of Jet Airways and Dutch insolvency administrator have agreed to cooperate in insolvency proceedings against the debt-ridden airline, the National Company Law Appellate Tribunal (NCLAT) was informed on Friday. The RP and the Dutch Court Administrator have agreed on terms and conditions on which they will cooperate in the ongoing […]

Jet Airways fails to attract new bidders, deadline unlikely to be extended

NEW DELHI: Grounded Jet Airways, which is undergoing insolvency proceedings, failed to attract any new bidders during the extended deadline period for submission of initial bids, according to a source. The third deadline for submission of Expression of Interest (EoI) ended on August 31. With no new bidders emerging during this period, there are only […]

Jet Airways employees seek interim financial relief till completion of resolution

NEW DELHI: Scores of Jet Airways employees on Tuesday gathered in the national capital and sought an interim financial assistance till completion of the insolvency resolution process. The once-storied full service carrier stopped flying on April 17 as it ran out of money for daily operations. An employees’ consortium has demanded that the Committee of […]

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