When Jet Airways was on its deathbed, the industry was shaken up impacting a host of entities - banks, employees and the general public
The tribunal has also appointed Ashish Chhauchharia of Grant Thornton as the resolution professional for the crippled airline that stopped operations on April 17
The rally comes ahead of the order from NCLT on insolvency plea filed by State Bank of India (SBI), due to be heard later in the day today
Over 25 years, Naresh Goyal systematically built Jet Airways into the world's best airline and then destroyed it
The consortium of 26 bankers led by State Bank had filed for bankruptcy Tuesday at the Mumbai bench of the National Company Law Tribunal
Dutch administrator to join proceedings after local court declares airline bankrupt
Jet Airways' best assets are planes, anyone interested?
"It's not easy to deal with 900 creditors outside insolvency proceedings"
As JetPrivilege outlives Jet, it challenges prevalent notions about brand loyalty while opening the door to a new engagement with old customers
We have made mistakes in civil aviation in the past which we need to correct, Puri said
Jet Airways owes more than Rs 8,000 crore to a consortium of banks led by the State Bank of India, which now run the airline
Indian lenders had planned buying the planes as collateral
The development comes at a time when banks are looking to resolve the once premier airline's debt issues outside the insolvency process
In October, Virgin Atlantic will launch Mumbai-London, while Delta will fly from Mumbai to New York from December, in a sign it will take months to replace Jet's non-stop capacity.
The airline has taken at least 22 planes that were earlier used by Jet Airways, which temporarily shuttered its operations due to cash crunch in April.
Full service carrier Jet Airways, which had a significant number of international flights, temporarily suspended operations in April after running out of cash
Jet, once the biggest private airline in India, stopped all flights from April 17 after lenders refused to give it any more funds to keep flying.
The employees' demands included payment of their salaries and revival of the airlines
The airfares have risen dramatically on many international routes since Jet Airways suspended its operations on April 17
Jet suspended operations on April 17