Jet Airways has not operated since April 17, 2019
Following the insolvency resolution process under India's bankruptcy code, a consortium of UAE- based businessman Murari Lal Jalan and UK-based Kalrock Consortium emerged to be the owner
Jet Airways, which has not flown since April 17, 2019, is currently in the process of re-launching operations under its new promoters Jalan-Kalrock Consortium.
It will be following the footsteps of Vistara, which had started hiring male cabin crew in March 2018, approximately three years after it was launched
The National Company Law Tribunal gave more time to ensure the revival of the grounded airline.
Expected to take to the skies again by the third quarter of CY2022, Jet will be the first bankrupt airline to be revived
The consortium infused Rs 500 million into Jet Airways 2.0 -- as it is dubbed by the new owners -- in January, and lenders have said they don't object to an extension of 60 days.
NCLT to hear matter on Monday; consortium had said extension was necessary to stop company from sliding into liquidation
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The deadline has been extended by a week to allow lenders to formulate their view on the consortium's application. The matter will now be heard on March 29.
The government is expecting the launch of the initial public offering (IPO) of Life Insurance Corporation of India (LIC) in two to three weeks
The 270-day deadline given to the group to implemey its plan ends on Tuesday; the consortium wants certain days excluded from this time frame in view of another pending application
The firm has to obtain the air operator certificate (AOC) from the Directorate General of Civil Aviation by March 22
According to a company statement, the restart activities are 'progressing well'
Makes application to NCLT; Rising cost of reviving operations is already a bone of contention between consortium and lenders
Kapoor is currently the president of Oberoi Hotels and Resorts. Prior to joining the Oberoi group, he was the chief strategy and commercial officer at Vistara.
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Kapoor has previously worked as chief operating officer at SpiceJet and chief strategy and commercial officer at Vistara.
Jalan-Kalrock consortium-owned Jet Airways on Tuesday announced the appointment of former SriLankan Airlines' CEO, Vipula Gunatilleka as the Chief Financial Officer. "We are excited to welcome Vipula Gunatilleka to our young and energetic team. Vipula is an aviation expert and regarded as a turnaround specialist in the industry. "He has been shortlisted after a rigorous process run by our Executive Team over the last several months," said Ankit Jalan, Member of the Monitoring Committee of Jet Airways and part of Jalan-Kalrock Consortium. Gunatilleka, who served as the CEO of the SriLankan Airlines till January this year, was brought to restructure the carrier in 2018, as per a release. "I am certain Vipula will be an asset to the organization and will provide the necessary vision to revive the operations of Jet Airways as per the plans of the Consortium," Jalan added. Prior to joining SriLankan Airlines, he was the CFO & Board Member of TAAG Angola Airlines from November 2015 to
Disagreements have emerged on funding pre-operative expenses which are necessary for DGCA approval