Reviving Jet Airways: Jalan Kalrock Consortium completes Rs 350 crore payment; plans to start airline in 2024

Ruchi Lahoti

Jul 31, 2024 — 1 min read

The Jalan Kalrock Consortium (JKC), which successfully resolved the Jet Airways case, has fulfilled its financial commitment by injecting an additional Rs 100 crores ($12 million), reaching a total equity contribution of Rs 350 crores ($42.1 million) as mandated by the court-approved resolution plan. The consortium's objective to revive the iconic airline remains unchanged, with plans to resume operations in 2024. The National Company Law Appellate Tribunal (NCLAT) granted an extension until September 30 for JKC to make the payment, allowing them to utilize Rs 150 crores from their performance bank guarantee, though creditors contested this use.

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Accelerate Your Business Growth While We Handle the Finances: A Winning Strategy

Saudi Arabia to set up an office in GIFT City India: Minister of Investment

IFSCA plans payment regulations in GIFT City soon, says Chairperson K Rajaraman

L&T hits record high, up 5% in 5 days; Jefferies, UBS maintain ‘buy’ rating