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Jalan-Kalrock Consortium confirms Rs 350 crore infusion in Jet Airways, prepared for ownership takeover of airline
The Jalan Kalrock Consortium, which emerged as the successful bidder for the revival of Jet Airways, has made an additional infusion of Rs 100 crore into the airline, in accordance with the resolution plan approved by the court.
New Delhi: The Jalan Kalrock Consortium, which emerged as the successful bidder for the revival of Jet Airways, has made an additional infusion of Rs 100 crore into the airline, in accordance with the resolution plan approved by the court.
This contribution completes their total financial commitment of Rs 350 crore for the airline's revival, enabling them to assume ownership of Jet Airways, it said in a statement on Friday.
Additionally, the consortium has reiterated its commitment to relaunching Jet Airways, and they anticipate announcing the specific launch date in the coming days.
Jet Airways ceased its operations on April 17, 2019.
In their statement, the consortium said that it "today completed an additional infusion of Rs 100 crore, reaffirming its unwavering commitment to a successful resurgence of Jet Airways. With this infusion, JKC has now fulfilled its total financial commitment of Rs 350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline".
They also said that their strategy to revive the airline remains unchanged and that the new promoters are resolute in restarting the airline's operations in 2024.
Further details about the Jet Airways launch date will be disclosed in the upcoming weeks.
