InvestorQ : What is the latest on the Jet Airways acquisition proposal?
prachi Patwardhan made post

What is the latest on the Jet Airways acquisition proposal?

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sara Kunju answered.
6 months ago
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There seems to be some progress happening on Jet Airways, more than 26 months since the airline was grounded for lack of funds. The Kalrock Jain consortium has got the final go ahead from the NCLT to take over and operate Jet Airways. The NCLT has also cleared their resolution plan submitted. Now, the next step for the consortium is to apply for requisite government approvals for the same.

In terms of logical steps, the new owners need to first make key recruitments in engineering, flight safety and operations. They also need to update all their operations manuals and submit to regulatory audit. It is only after this that the DGCA gives them the permission to start flights. Of course, the issue of landing slots owned by the erstwhile Jet Airways is still in pendency. This would bring the insolvency process to a logical end.

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