In a significant development for the revival of Jet Airways, the Jalan Kalrock Consortium has injected an additional ₹100 crore into the airline, aligning with the court-approved resolution plan. This announcement marks a crucial step in bringing the iconic carrier back to life after it was grounded on April 17, 2019.
The Jalan Kalrock Consortium expressed its optimism about Jet Airways’ future, hinting at its operational revival slated for the coming year, with an official launch date soon to be disclosed.
In an official statement, the consortium emphasized its unwavering commitment to Jet Airways’ successful resurgence, stating, “Jalan Kalrock Consortium today completed an additional infusion of ₹100 crore, reaffirming its unwavering commitment to the successful resurgence of Jet Airways.”
With this financial boost, the consortium has now fulfilled its total equity commitment of ₹350 crore, as mandated by the court-approved resolution plan. This milestone sets the stage for the consortium to assume control of the airline, a crucial turning point in the revival journey.
The consortium reiterated that its revival strategy for Jet Airways remains unchanged, underscoring its determination to restore the airline to full operation in 2024. As the journey to rejuvenate this beloved airline continues, further announcements regarding Jet Airways’ official relaunch date are expected in the coming weeks. Stay tuned for more updates on this exciting revival story.
About Jet Airways:
Jet Airways Ltd, a former Indian airline, had its roots in Delhi NCR, and also had a training and developmental center located in Mumbai. Established in April 1992 as a limited liability company, the airline initially started as an air taxi operator in 1993 before expanding into full-fledged operations in 1995, subsequently introducing international flights in 2004.
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