Jet Airways will resume domestic operations by the first quarter of 2022, an investor consortium whose resolution plan was approved by India’s bankruptcy court earlier this year said on Monday.
Once India’s biggest private carrier, Jet stopped flying in April 2019 after running out of cash, owing billions to lenders and leaving thousands without jobs.
- Govt to impose 10% import duty on desi chana from 1st April
- Xi Jinping Meets Global CEOs Amid Slowing Investment
- ChatGPT’s Viral Ghibli-Style Images Spark AI Copyright Debate
- BEML Shares Extend Gains on Rs 405 Crore Contract
- Force Motors Shares Soar 7% on Securing Order for Force Gurkha Light
The defunct airline had said in June that the National Company Law Tribunal (NCLT) approved a resolution plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan.
The bankruptcy court’s go-ahead came several months after Jet’s creditors had given their approval in October last year to the resolution plan submitted by the consortium.
