Jet Airways set to relaunch this year
Jet Airways 2.0 hopes to take flight within the next six months.
The defunct airline will be revived this year says the Jalan-Kalrock consortium which ageed to buy the company.
Jalan-Kalrock is waiting for approval of its resolution plan from the National Company Law Tribunal bankruptcy court.
"Everything is planned properly and we are going with the plan," said Murari Lal Jalan.
The consortium will take a 89% stake and plans to repay creditors about INR6 billion over the next two years.
The restructuring plan promised INR10 billion to relaunch the cash-strapped airline which was weighted down with large debt thought to be in the region of $3 billion.
The consortium expects to restart operations with up to 25 aircraft.
Despite the depressed global air market and India’s position as one of the most competitive price-conscious markets, Jet Airways plans to continue as a full-service carrier.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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