The writing had been on the wall for Jet Airways, which ceased operations five years ago. On Thursday, the Supreme Court officially put to rest the airline—at its peak India’s largest and arguably best carrier, and along with it any residual hope of its revival.
The Supreme Court Thursday ordered the liquidation of Jet Airways under the Insolvency and Bankruptcy Code (IBC), marking an end to the five-year saga of attempts to revive the airline through the corporate insolvency resolution route, which was marked by a bitter legal battle between the lenders and the Jalan KalRock Consortium (JKC), which was declared the successful resolution applicant (SRA) for the airline in 2021. JKC is a consortium of London-based Kalrock Capital and…
