India’s Jet Airways to lease narrow-body vehicles for 1Q22 restart
15.09.2021 – 09:39 UTC
Jet Airways (JAI, Mumbai Int’l) is expected to begin domestic flight operations in the first quarter of 2022 and is working closely with airport operators on slot allocation, the Jalan-Kalrock consortium told local media behind the attempted relaunch of the airline. in a press release.
The new carrier intends to make its first post-insolvency commercial flight from Delhi Int’l to Mumbai Int’l early next year, followed by short-haul international flights by the third or fourth. quarter 2022, the consortium announced in September. 13.
Sudhir Gaur has been appointed acting general manager of the resurrected airline. He is a seasoned pilot who has worked for Jet Airways since its inception and led criticism of the company’s management last year to the consortium of London-based asset management firm Kalrock Capital and Murari Lal Jalan, a UAE-based investor, gained creditors approval in November and subsequently support from the National Company Law Tribunal (NCLT) in June 2021.
The press release says the process …
The revival of Jet Airways threatened; B777 sold for $ 9 million
10.09.2021 – 06:07 UTC
The attempt to rescue and revive Jet Airways (JAI, Mumbai Int’l) risks being prolonged, if not compromised, as the airline faces new disputes. Meanwhile, Dutch administrators sold one of the carrier’s Boeing widebody jets for $ 9 million, an oversight committee official has revealed.
While the consortium behind the attempted relaunch consisting of Murari Lal Jalan, an Indian investor based in the United Arab Emirates, and the British fund Kalrock Capital, had planned to resume flight operations by early 2022, the Punjab National Bank, a nationalized bank based in New Delhi, alleged irregularities in the plan. The bank approached the National Company Law Appeals Tribunal (NCLAT) alleging “flagrant irregularities” in the resolution of the bankruptcy, and the court agreed to hear the case on September 21.
According to its court file, the bank – India’s second-largest state lender – argued that the court-appointed official of the airline in charge of the revival, Ashish Chhawchharia, initially accepted his claim closely. of 10 billion INR rupees (136 million USD), but then reduced by 2 billion INR (27 million USD).
The court also agreed to hear allegations that two …
India’s Jet Airways aims to restart in 1Q22
03.09.2021 – 00:04 UTC
Although it hasn’t secured the critical slots at the congested Mumbai Int’l and Delhi Int’l airports it needs, Jet Airways (JAI, Mumbai Int’l) is still hoping to restart scheduled flights in the first quarter. 2022, CNBC TV18 reported. .
The consortium of Murari Lal Jalan, an Indian investor based in the United Arab Emirates, and British fund Kalrock Capital, obtained approval from the National Company Law Tribunal (NCLT) in June 2021, although it has not yet crossed all obstacles. The Punjab National Bank (PNB) filed an appeal with the National Company Law Appeals Tribunal (NCLAT), alleging “flagrant irregularities” during the resolution of the bankruptcy. The appeal resulted in a stay of execution for approval of the takeover. The court will hear the case on September 21, 2021.
Jet Airways is currently in talks with the Indian Directorate General of Civil Aviation (DGCA) to reactivate its operating license (OL). She has started hiring staff, for now, mainly in maintenance and administration, but continues to search for a new general manager. Meanwhile, he would be in talks with the two …
Jet Airways staff in India challenge relaunch of consortium
25.08.2021 – 02:15 UTC
Jet Airways (JAI, Mumbai Int’l) cabin and ground staff have united to challenge the Kalrock-Jalan consortium’s proposal to revive the airline, expressing concerns over unpaid wages and pension benefits , and have filed a petition on the matter with the National Company Law Appeals Tribunal (NCLAT), the Press Trust of India reported.
The Jet Airways Cabin Crew Association (JACCA) and ground staff union Bhartiya Kamgar Sena have claimed that monies owed to employees were not included as part of the insolvency proceeding taking place as part of the process. Corporate Insolvency Resolution (CIRP).
In June, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the consortium’s resolution plan for Jet Airways, which ceased airline operations in April 2019. But the two unions asked the appeals tribunal to “Reverse and reverse” that decision and urged that its execution – and the sale of assets such as planes, spare parts and ground equipment – be postponed until their request is heard.
The petition explains that the consortium’s plan includes the split of the Jet Airways subsidiary …