Ready to infuse funds to fast track Jet Airways’ revival: Jalan Kalrock Consortium

The Jalan Kalrock Consortium, the successful resolution applicant for the acquisition of Jet Airways, on Friday said it wants to infuse funds in the airline to fast track its revival process.

The consortium approached the NCLT to fast-track implementation of the resolution plan approved by the latter in June 2021.

“The consortium wants to commence payments to all stakeholders including ex-employees, workmen, ticket claimants and lenders of Jet Airways as per the plan approved by the NCLT in June 2021,” the consortium said in a statement.

In its latest filing before the NCLT, the consortium has intimated December 22, 2021, as its plan ‘effective date’ and seeks to forthwith implement the plan as approved previously by NCLT in June 2021.

Murari Lal Jalan, Lead Member of the consortium and proposed Promoter and Non-Executive Chairman of Jet Airways, said: “The consortium is ready with its investments and given the progress the team has made operationally since NCLT approval in June 2021, we feel it is time to fund the company immediately for revival of the business, without delay.”

“We are aiming to start domestic operations at the earliest in 2022 as a ‘Full-Service Carrier’ and look forward to creating history with Jet Airways revival,” he said in the statement.

On slots at key airports, the consortium clarified that it is working closely with the relevant authorities and airport coordinators and is confident to get the initial slots required to commence operations.

“We have held multiple rounds of discussions with all key airports which form part of the initial network plan and are confident to get the required slots in the ‘Summer Schedule of 2022’,” the statement said.

On fresh hiring, the company has received more than 35,000 applications across job categories and the team is shortlisting candidates as per its business requirements, it claimed.

“Jet Airways 2.0’s new corporate office is in Gurugram and the consortium is looking for a bigger office in Delhi NCR to house the entire team in one office,” the statement added.




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