Jet Airways May Fly Again Early Next Year As New Management Takes Charge of Airline
4 years, 2 months ago

Jet Airways May Fly Again Early Next Year As New Management Takes Charge of Airline

News 18  

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. Now, after the resolution process has been completed and the Kalrock-led consortium takes over the airline, the first task would be to retrieve its slots which were temporarily distributed among other players. Speaking to IANS, Ashish Mohanty, President of Jet Aircraft Maintenance Engineers Welfare Association said that Jet’s first flight may be in about four months after the takeover by the new owners. “Jet has always been a really good brand and we have been hopeful that it get new owners, it will take off in just three to four months," he said.

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History of this topic

Supreme Court orders liquidation of debt-ridden Jet Airways
2 months ago

Supreme Court orders liquidation of debt-ridden Jet Airways

Hindustan Times  

The Supreme Court on Thursday ordered the liquidation of Jet Airways while setting aside the National Company Law Appellate Tribunal ruling that upheld the transfer of the defunct airline’s ownership to the Jalan-Kalrock Consortium under an approved resolution plan. Represented by advocates Debmalya Banerjee, Kartik Bhatnagar and Karanjawala & Co, JKC said it incurred significant losses, exceeding ₹600 crore, due …

Supreme Court orders liquidation of Jet Airways, overturns NCLAT ruling; rejects JKC transfer – 10 things to know
2 months ago

Supreme Court orders liquidation of Jet Airways, overturns NCLAT ruling; rejects JKC transfer – 10 things to know

Live Mint  

The Supreme Court ordered the liquidation of Jet Airways on Thursday, November 7, after it found that the successful bidder for the airline, Jalan-Kalrock Consortium, failed to comply with the revival plan. Top 10 things to know from the verdict Supreme Court Orders Jet Airways’ Liquidation The Supreme Court court found that the Jalan-Kalrock Consortium failed to meet key obligations …

Jet Airways: Jalan-Kalrock Consortium Soars High with Rs 100 Crore Infusion, Signals Hope for Revival
1 year, 3 months ago

Jet Airways: Jalan-Kalrock Consortium Soars High with Rs 100 Crore Infusion, Signals Hope for Revival

News 18  

In a remarkable turn of events, Jalan Kalrock Consortium has made a significant announcement that has reignited hopes for the revival of Jet Airways, once a prominent player in the Indian aviation industry. The consortium’s unwavering determination to revive Jet Airways remains a ray of hope for aviation enthusiasts and travelers alike. In recent years, the industry has faced numerous …

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired
1 year, 7 months ago

Uncertainty Continues Over Jet Airways Permit to Fly Again, Validity Expired

News 18  

Uncertainty continues over the revival of grounded Jet Airways as the validity of the airline’s air operator’s certificate expires on Friday. There was no word from the Jalan Kalrock Consortium, which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline’s flying permit. The Air Operator’s Certificate of the airline, which …

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders
1 year, 7 months ago

Jet Airways Relaunch Remains Uncertain as Jalan-Kalrock Seeks More Time to Pay Lenders

News 18  

The indefinite wait to see Jet Airways back in the skies continues for a while longer. Jalan-Kalrock consortium, who won the bid to takeover and restart the airline informed India’s bankruptcy court that it needs more time to repay creditors and implement the resolution plan. According to the January 13 verdict of the NCLT, the consortium is supposed to make …

Jet Airways CEO-designate Sanjiv Kapoor quits
1 year, 8 months ago

Jet Airways CEO-designate Sanjiv Kapoor quits

Live Mint  

Grounded airline Jet Airways' CEO-designate Sanjiv Kapoor quit the airline, an official statement confirmed. The Jalan Kalrock Consortium today announced that Sanjiv Kapoor, Chief Executive Officer-designate for Jet Airways, is departing the company effective Monday, May 1, on the conclusion of his notice period," the airline said in a statement. Controversy over Jet Airways CEO title The Jalan-Kalrock consortium and …

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium
1 year, 11 months ago

NCLT allows transfer of Jet Airways ownership to Jalan Kalrock consortium

Live Mint  

NEW DELHI: The National Company Law Tribunal has allowed the transfer of ownership of Jet Airways to winning bidder Jalan-Kalrock consortium. As per the resolution plan, the consortium has to make cash payments of ₹185 crore to financial creditors within 180 days from the effective date. On 22 June 2021, the tribunal in its order had approved the resolution plan …

No more approval required for Kapoor to be Jet Airways CEO designate
2 years ago

No more approval required for Kapoor to be Jet Airways CEO designate

Live Mint  

NEW DELHI: The appointment of Sanjiv Kapoor as the chief executive officer designate of Jet Airways requires no further approval from any statutory authority, the winning bidder of the airline, Jalan-Kalrock consortium, has said in writing to resolution professional Ashish Chhawchharia. The consortium requested the resolution professional to share a copy of the relevant minutes of the meeting where the …

Sanjiv Kapoor to remain CEO-designate of Jet Airways
2 years ago

Sanjiv Kapoor to remain CEO-designate of Jet Airways

Live Mint  

Grounded carrier Jet Airways on Monday said Sanjiv Kapoor remains the CEO-designate of the company till the airline's ownership is transferred to the consortium by the lenders. Earlier CNBCTV18 reported that head of the Jet Airways management committee and erstwhile Resolution Professional Ashish Chhawchharia in a notice to Kapoor has asked him to refrain from using the title of CEO …

Kapoor is the CEO-designate, not CEO: Jet panel
2 years ago

Kapoor is the CEO-designate, not CEO: Jet panel

Live Mint  

The monitoring committee of Jet Airways has sent a notice to Sanjiv Kapoor questioning his designation as the chief executive officer of the airline, two officials said. As the ownership of the airline has not been transferred yet to the winning bidder, the Jalan-Kalrock consortium, the panel objected to statements made by Kapoor as the airline’s CEO, and said that …

Jet Airways revival hits new snag as banks push back on funding
2 years, 1 month ago

Jet Airways revival hits new snag as banks push back on funding

Live Mint  

Lenders to bankrupt Jet Airways India Ltd. are resisting a court-approved resolution plan, further delaying the former No. The primary dispute is about whether the new owners of Jet Airways need to pay more money into the pension funds of ex-employees, the people said, asking not to be identified because they’re not authorized to speak publicly about the matter. Banks, …

NCLT to hear Jet Airways matter on 6 December
2 years, 1 month ago

NCLT to hear Jet Airways matter on 6 December

Live Mint  

The Mumbai bench of the National Company Law Tribunal on Tuesday adjourned the Jet Airways insolvency matter to 6 December. An interim application was filed by the successful resolution applicant Jalan-Kalrock consortium before the NCLT seeking implementation of the resolution plan submitted by them in an attempt to transfer ownership of the airline. Currently, some lenders from the committee of …

Why Jet Airways 2.0 has yet to take off
2 years, 1 month ago

Why Jet Airways 2.0 has yet to take off

Live Mint  

Seventeen months since the National Company Law Tribunal approved the resolution plan for Jet Airways, the airline is yet to return to service. The consortium has deposited bank guarantees worth ₹150 crore, and says it will invest further only after the next steps of the resolution plan are fulfilled in terms of handover of the company. The resolution plan says …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 8 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Jet Airways takes to the skies again with a test flight | Watch video
2 years, 8 months ago

Jet Airways takes to the skies again with a test flight | Watch video

India Today  

Jet Airways on Thursday took to the skies again after a hiatus of more than three years. An emotional day for all of us who have been waiting, working, and praying for this day, as well as for Jet's loyal customers who can't wait for Jet to commence operations again," Jet Airways said. An emotional day for all of us …

Jet Airways 2.0: From launch date to benefits for flyers, CEO Sanjiv Kapoor reveals key details
2 years, 9 months ago

Jet Airways 2.0: From launch date to benefits for flyers, CEO Sanjiv Kapoor reveals key details

India Today  

Jet Airways is gearing up to take to Indian skies by October 2022, airline Chief Executive Officer Sanjiv Kapoor said. FACILITIES FOR FLYERS Newly appointed CEO Sanjiv Kapoor said that Jet Airways will offer two-class facilities for flyers as part of the airline's plan to return with a hybrid of no-frills and premium services. Kapoor said Jet Airways has 200 …

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer
2 years, 10 months ago

Aviation Veteran Sanjiv Kapoor Appointed as Jet Airways Chief Executive Officer

The Quint  

Kapoor was earlier also a part of SpiceJet. "I am certain he will be able to lead Jet Airways and make it become the most preferred full-service carrier of India. Sanjiv is a seasoned aviation professional who has the right blend and demeanour to stitch a team together," said Murari Lal Jalan, Lead Partner of the Jalan-Kalrock Consortium and proposed …

Meet Sanjiv Kapoor: Ex Vistara, SpiceJet official is Jet Airways' pick to take airline to the skies again
2 years, 10 months ago

Meet Sanjiv Kapoor: Ex Vistara, SpiceJet official is Jet Airways' pick to take airline to the skies again

India Today  

Jet Airways is all set to get a new Chief Executive Officer as Jalan Kalrock Consortium on Friday announced the appointment of Sanjiv Kapoor for the pivotal role. "Working together with a very strong team of experienced aviation professionals that is being put together by the Jalan-Kalrock Consortium, I look forward to leading the charge in rebuilding Jet Airways into …

Jet Airways appoints Sanjiv Kapoor as CEO
2 years, 10 months ago

Jet Airways appoints Sanjiv Kapoor as CEO

India Today  

Jet Airways on Friday appointed Sanjiv Kapoor as Chief executive officer. WILL TAKE JET AIRWAYS TO THE SKIES AGAIN Speaking on his accepting the role as the Chief Executive Officer, Kapoor said, "I am looking forward to getting back to aviation, an industry I am passionate about, with Jet Airways, one of the warmest, classiest and most loved brands to …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 6 months ago

Explained | What are the challenges Jet Airways faces before it can take off again?

The Hindu  

The story so far: Two years after Jet Airways — at the time India’s second-largest full-service airline — halted operations in 2019 as it ran out of cash, the carrier has a real chance at getting airborne again. When Jet Airways halted operations in 2019, the government distributed its airport slots among various other Indian carriers. At the time, the …

Jet Airways timeline: Journey from being cash-starved airline to resolution plan
3 years, 6 months ago

Jet Airways timeline: Journey from being cash-starved airline to resolution plan

India TV News  

In a much-anticipated breakthrough in the Jet Airways resolution, the National Company Law Tribunal has approved the resolution of Kalrock-Jalan consortium for the bankrupt Jet Airways. Last November, the resolution professional of Jet Airways submitted the successful resolution plan of Kalrock Capital and Murari Lal Jalan for the bankrupt airline at the NCLT. June 22, 2021 -- National Company Law …

Kalrock-Jalan cleared to restart Jet
3 years, 6 months ago

Kalrock-Jalan cleared to restart Jet

The Hindu  

The National Company Law Tribunal, Mumbai, on Tuesday approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for the revival of Jet Airways two years after the airline shut down operations due to a cash crunch. “The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil …

‘Jet’s winning bidder cannot claim airline’s original slots’
3 years, 7 months ago

‘Jet’s winning bidder cannot claim airline’s original slots’

The Hindu  

In a move that casts doubt on the future of Jet Airways, the Ministry of Civil Aviation has told the Mumbai bench of the NCLT that the airline’s winning bidder does not have a claim over the airport slots distributed among various airlines when Jet ceased operations in 2019. In March 2019, as Jet wound up operations, the Ministry of …

Jalan Kalrock Consortium expects to restart Jet Airways in 4-6 months after NCLT nod
3 years, 10 months ago

Jalan Kalrock Consortium expects to restart Jet Airways in 4-6 months after NCLT nod

Live Mint  

Jalan Kalrock Consortium, the winning bidder for Jet Airways, expects to restart operations of the defunct airline in four to six months after receiving approval from the NCLT for its resolution plan. Against the backdrop of the National Company Law Tribunal likely to take a final call on the resolution plan for the airline, the winning consortium's lead member Murari …

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert
4 years, 2 months ago

Jet Airways Operations Remain Tough, Uncertain Despite CoC Approval Of Revival Plan: Expert

ABP News  

It seems that troubles for the ailing Jet Airways isn’t getting over soon even as the committee of creditors has approved the airline's revival plan submitted by the Kalrock Capital-Murari Lal Jalan consortium. According to news agency PTI report, Kaul has said the "terms" accepted by the Jet Airways creditors did not make sense to CAPA.The committee of creditors has …

Jet’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline
4 years, 2 months ago

Jet’s lenders approve Kalrock Capital-Murari Jalan’s plan to revive airline

Live Mint  

NEW DELHI: The lenders of Jet Airways Ltd on Saturday approved the resolution plan submitted by UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline over a year after the carrier was grounded due to acute funds crunch under the ownership of its founder Naresh Goyal. "The e-voting concluded today, i.e., October 17, 2020 …

Jet Airways clarifies Kalrock Capital consortium did not win bid
4 years, 3 months ago

Jet Airways clarifies Kalrock Capital consortium did not win bid

Live Mint  

MUMBAI: Jet Airways on Thursday clarified that the consortium of Kalrock Capital and Murari Lal Jalan has not won the bid for the bankrupt airline. In a notification to the stock exchanges, the resolution professional of the stressed airline company said the committee of creditors has not concluded e-voting on the final resolution plans submitted by two shortlisted bidders. The …

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline
4 years, 10 months ago

Jet Airways: CoC decides to extend deadline for bids to 10 March after Russian Fund shows interest in grounded airline

Firstpost  

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday The Committee of Creditors of grounded airline Jet Airways decided to extend the deadline for submission of bids to 10 March on Tuesday as a new entity has evinced interest in the airline, according to a source. #aviation https://t.co/cJwhEuapr1 — CNBC-TV18 February 18, …

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline
4 years, 10 months ago

Jet Airways revival plan: Creditors panel to meet today, may decide on extending deadline to two suitors keen on crisis-hit airline

Firstpost  

The second bidder, South America-based Synergy Group, did not submit a plan for Jet Airways and the group reportedly sought clarity on slots in the domestic and international routes of the grounded airline. Even as Jet Airways’ Committee of Creditors is to meet today to decide on extending deadline to two suitors that have evinced interest in the grounded airline, …

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline
5 years ago

Hinduja Group still interested in Jet Airways after approach by govt, banks; resolution professional invites fresh EoI for defunct airline

Firstpost  

Earlier in June, the Hinduja Group had backed out of bidding for the Naresh Goyal-owned airline as they felt it was too risky for them to get involved due to the then ongoing government investigations and the insolvency pleas submitted by operational creditors at the NCLT, The Hinduja group is still keen to bid for the grounded airline, Jet Airways. …

Deadline to submit expressions of interest in Jet Airways extended to 10 August
5 years, 5 months ago

Deadline to submit expressions of interest in Jet Airways extended to 10 August

Live Mint  

The last date to submit expressions of interest for Jet Airways has been extended to 10 August after the company received interest from only a “couple of investors” by Saturday, the original deadline. “This is to bring to the attention of all interested resolution applicants that the revised deadline for submission stands at 4 pm on 10 August, 2019,” said …

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license
5 years, 6 months ago

Jet Airways saga: Buyers await regulator’s scrutiny of airline’s flying license

Live Mint  

With prospective buyers lining up to take a shot at bagging Jet Airways cheap, its prime asset -- the flying license -- is under the aviation regulator's scrutiny that might derail the NCLT-backed resolution process. However, since the NCLT has stated that matter of resolution at Jet Airways is considered to be of "national importance", the resolution professional is widely …

SBI chairman defends sending Jet Airways to bankruptcy court, says 'last effort' to find resolution
5 years, 6 months ago

SBI chairman defends sending Jet Airways to bankruptcy court, says 'last effort' to find resolution

Firstpost  

Jet Airways, which was grounded on 17 April, owes more than Rs 8,500 crore to a consortium of banks led by State Bank Mumbai: State Bank chairman Rajnish Kumar on Thursday defended the lenders’ decision to take Jet Airways for bankruptcy saying “it was their last effort to find a resolution” for the grounded airline and also did not rule …

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival
5 years, 6 months ago

Jet Airways crisis: Lenders to take debt-laden airline to NCLT as banks yet to get any concrete proposal for revival

Firstpost  

The bank said lenders have been making efforts to find a resolution for Jet Airways outside IBC but now have decided to seek a resolution within the IBC. Mumbai: State Bank of India-led consortium of lenders on Monday decided to send the now-grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete …

Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar
5 years, 7 months ago

Clarity on Jet Airways expected in a week, says SBI chief Rajnish Kumar

Live Mint  

New Delhi: It may not be over till it is over. Even as some industry veterans believe that grounded Jet Airways may have hit the end of the road, State Bank of India Chairman Rajnish Kumar remains optimistic that clarity over the future course of the airline will emerge in a week's time. Private equity firm TPG Capital, Indigo Partners, …

Binding bids from investors to determine Jet Airways’ revival, say lenders
5 years, 8 months ago

Binding bids from investors to determine Jet Airways’ revival, say lenders

Live Mint  

Lenders to Jet Airways said on Thursday that they have decided, the best way forward for the survival of Jet Airways is to get the binding bids from potential investors. “The lenders after due deliberations decided that the best way forward for the survival of Jet Airways is to get the binding bids from potential investors who have expressed expression …

Naresh Goyal first planned to bid for Jet Airways in January
5 years, 8 months ago

Naresh Goyal first planned to bid for Jet Airways in January

Live Mint  

Mumbai: Jet Airways Ltd founder Naresh Goyal, who was forced out of the troubled airline’s board in March following defaults on payments to banks and aircraft lessors, was planning a bid for the carrier at least as early as January, regulatory documents show. Ltd, a Goyal-owned company that is a general sales agent to Jet Airways, agreed to provide the …

Jet Airways, once India’s biggest airline, fights to keep flying
5 years, 8 months ago

Jet Airways, once India’s biggest airline, fights to keep flying

Live Mint  

Jet Airways India Ltd.’s fleet has shrunk by almost 90 percent as the cash-strapped airline struggles to find funds to operate, forcing the nation’s oldest surviving private airline to drastically curtail its scheduled flights amid a hunt for a new investor. The carrier, once India’s biggest by market capitalization, was forced to ground 10 more jets after it failed to …

Jet Airways creditors wait for takeover bids as deadline looms
5 years, 9 months ago

Jet Airways creditors wait for takeover bids as deadline looms

Live Mint  

Mumbai: The fate of debt-laden Jet Airways India Ltd., the country’s oldest surviving private airline, could be determined as soon as a creditor-imposed deadline for takeover bids runs out on Wednesday. Creditors led by State Bank of India had not received any bids for as much as 75% of Jet Airways as of Tuesday, though that doesn’t mean that offers …

Have agreed to every condition laid down by Jet Airways' lenders to ensure release of funds for airline, says Naresh Goyal
5 years, 9 months ago

Have agreed to every condition laid down by Jet Airways' lenders to ensure release of funds for airline, says Naresh Goyal

Firstpost  

Jet Airways is set to undergo a debt resolution whereby lenders will take control and also infuse funds worth Rs 1,500 crore New Delhi: Jet Airways promoter and former chairman Naresh Goyal Wednesday said he has agreed to every term and condition laid down by lenders to ensure timely release of funds for the airline. The crisis-hit carrier is set …

Jet Airways currently operational with only 15 aircraft, says aviation secretary P S Kharola
5 years, 9 months ago

Jet Airways currently operational with only 15 aircraft, says aviation secretary P S Kharola

Firstpost  

New Delhi: Less than 15 aircraft of Jet Airways are currently operational, Civil Aviation Secretary P S Kharola said on Wednesday. The SBI-led consortium of lenders had taken over the management of the cash-hit Jet Airways last month. Asked about the active fleet of the beleaguered airline, the Civil Aviation Secretary said here that “yesterday, it was 28”. On the …

Jet Airways bailout plan to be finalized in a week: SBI official
5 years, 9 months ago

Jet Airways bailout plan to be finalized in a week: SBI official

Live Mint  

Mumbai: Lenders to crisis-hit Jet Airways Ltd were hopeful of arriving at a resolution within the next one week, a senior State Bank of India official said on the condition of anonymity. Asked if lenders were concerned about the delay in the resolution process of the Jet Airways crisis, the banker said since lenders were making all efforts led by …

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO
5 years, 10 months ago

Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO

Live Mint  

Jet Airways and Etihad Airways on Monday said they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline. On Sunday, officials associated with the lenders and key shareholders said SBI was considering moving the tribunal seeking insolvency proceedings against Jet Airways since it is running out of money for operations. …

Jet Airways says stakeholders yet to agree and approve resolution plan
5 years, 11 months ago

Jet Airways says stakeholders yet to agree and approve resolution plan

Live Mint  

Jet Airways Ltd. on Friday said that stakeholders of the airline and board of directors of the company are yet to agree and approve the resolution plan that is expected to infuse much needed capital in the company. "The said resolution plan which, inter alia, contemplates various options on the debt equity mix and proportion of equity infusion by the …

Jet Airways proposes late debt repayments to creditors
6 years ago

Jet Airways proposes late debt repayments to creditors

Live Mint  

Singapore/New Delhi: Cash-strapped Jet Airways proposed to creditors that it would catch up with debt payments in arrears by September and from April would meet debt payments as they come due, according to a document seen by Reuters. An instalment of interest and principal on debt due on December 31 was delayed “due to temporary cash flow mismatch”, the company …

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