Boeing has begun “return to service” modification work on the five B737 Max in India that now-defunct Jet Airways had in its fleet. Once complete, the two foreign lessors of these five planes will seek India’s nod to either fly them to their home countries or to new customers abroad. This aircraft is barred from … Continue reading Boeing begins ‘return to service’ work on five B737 Max of erstwhile Jet Airways
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A final decision on reviving Jet Airways could come this month. The National Company Law Tribunal (NCLT) has directed representatives of the aviation ministry and the Directorate General of Civil Aviation (DGCA) to be present for a hearing on the matter on Tuesday so that “no future uncertainty would remain in case the (revival) plan … Continue reading Jet revival decision soon, NCLT hearing this month
Bombay high court on Monday rejected a plea made by Enforcement Directorate (ED) to challenge an order of the sessions court that was in favour of Jet Airways. Sessions Judge had in October rejected the ED’s application to intervene in closure of a case of alleged cheating and criminal breach of trust registered against Jet … Continue reading Bombay HC rejects ED plea in Jet Airways case
The resolution professional (RP) of Jet Airways has filed a revival plan recently approved by the committee of creditors with the National Company Law Tribunal (NCLT) to seek its clearance under the Insolvency and Bankruptcy Code.
All airlines are feeling the coronavirus pinch but one that hasn’t flown since April 2019 after collapsing under a pile of debt is the world’s best performing — at least from a share price point of view. Stock in Mumbai-listed Jet Airways India Ltd has surged almost 150% this year versus a 42% plunge in … Continue reading Jet Airways is world’s best-performing airline stock
Rekindling hope for Jet Airways to fly again, the grounded-since-last-April airline’s committee of creditors has approved a revival plan submitted by a consortium of London-based Kalrock Capital and UAE businessman Murari Lal Jalan.
Jet Airways creditors are seeking court action to save the bankrupt carrier from liquidation as a key deadline looms. Lenders plan to request the court to extend a mid-March deadline for creditors to agree on a resolution plan. Potential buyers are also seeking more time to prepare bids. The airline could be forced into liquidation … Continue reading Jet Airways lenders seek more time