Jet Airways Defers Fresh Take-Off Plans for the Fourth Time

The new owners of Jet Airways have deferred the commencement of its operations for the fourth time in a year, even as the airline continues to be trapped in legal wrangles with lenders and employees, the Economic Times of India reported. Jet stopped operating in April 2019, burdened under piling losses, debt and dues. It was admitted for insolvency proceedings by the National Company Law Tribunal in June 2019. After two years of a rambling insolvency process, the bankruptcy court approved JKC’s resolution plan in June this year. The new owners of Jet Airways have deferred the commencement of its operations for the fourth time in a year, even as the airline continues to be trapped in legal wrangles with lenders and employees. In a press release, they said Jet, India’s oldest surviving private carrier, would start operations between January and March next year. The Jalan Kalrock Consortium (JKC) that acquired the bankrupt airline had initially planned to resume its operations in the summer of 2021, the schedule for which, according to the country’s aviation regulator, starts on the last Sunday of March. One of the owners, Dubai-based businessman Murari Lal Jalan, had said it would start in July 2021. Later, the company’s court-appointed resolution professional reportedly said the airline would start flying by December 2021. London’s Kalrock Capital is the other partner in the consortium. Read more.
Location