The attempt to rescue and relaunch Jet Airways (JAI, Mumbai Int’l) is likely to be prolonged, or even jeopardised, as the airline faces fresh litigation. Meanwhile, Dutch administrators have sold one of the carrier’s Boeing widebodies for USD9 million, a monitoring committee official revealed.
While the consortium behind the attempted relaunch comprising Murari Lal Jalan, a UAE-based Indian investor, and UK fund Kalrock Capital, had planned to resume flight operations by early 2022, the Punjab National Bank, a nationalised New Delhi-based bank, has alleged irregularities in the plan. The bank approached the National Company Law Appellate Tribunal (NCLAT) alleging gross irregularities in the bankruptcy resolution, and the tribunal agre…
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