In a statement to Moneycontrol, board member Kalrock said: “I want to thank CoC and RP for managing the insolvency process. We look forward to working with Jet Airways stakeholders and restoring the airline’s fame and heritage. “
What is the plan for the future of Jet?
Now that Kalrock-Jalan has won the bid, they have the unenviable job of reviving the airline during the global pandemic. According to The Economic Times, the consortium plans to invest $ 136 million (1,000 crore) in the airline over the next five years. These investments are likely to go to aircraft maintenance and flight restarts.
The way forward will be difficult for Jet Airways. It remains unclear whether Jet will return to its previous slots at key domestic and international airports. However, if this happens, it may be much easier for airlines to start domestic flights at the moment.
What will new investors get?
As the sale formalities are almost complete (the application must be accepted by NCLT), we can now see which assets the new investors will receive. The airline currently owns a fleet of 12 aircraft, including six 777, three A330 and three 737. After heavy maintenance, these aircraft may be relatively operational relatively soon.
In addition to its fleet, the airline has slightly more assets, most others are sold in bankruptcy. However, the airline still has a significant brand in India and around the world, abandoning it when it restarts flights. We will be sure to inform you about all the events of this agreement and when Jet Airways will restart flights!
What do you think about selling Jet Airways? Will you be flying the airline again? Let us know in the comments!