Jet Airways closer to return to skies as rescue plan approved
The Peninsula
An Indian bankruptcy court ruled Jet Airways India Ltd. can resume operations under a new owner more than two years after it collapsed, according to Ashish Chhawchharia, the court-appointed professional running the carrier’s insolvency.
Jet Airways, once India’s biggest private carrier, needs to apply for slots within 90 days and the aviation regulator will make a final decision on allotting them, CNBC-TV18 said in an earlier report on the ruling Tuesday. The airline fell into bankruptcy in 2019 after failing to repay debts. A rescue plan was laid out last year by Dubai-based businessman Murari Lal Jalan and Kalrock Capital Management Ltd., a London-based financial advisory and alternative asset manager.More Related News