Almost two years after India’s oldest private airline was grounded, Jet Airways may be able to fly again by July or August of this year, the potential new owner of the airline told CNBC-TV18.
Murari Lal Jalan, the lead member of the Jalan-Kalrock consortium, said that the unexpected delay in securing National Company Law Tribunal’s (NCLT) nod may push the plans to get Jet Airways back in the sky by two to three months.
The Kalrock-Jalan consortium was declared the winning bidder for Jet Airways by the creditors' committee in October last year but is still awaiting the final clearance from NCLT before it can take over the airline.
In a conversation with CNBC-TV18, Jalan said that while the initial plan was to get the airline flying again by April this year, he now expects the pending NCLT approval to come in over the next 3-4 weeks, and have the airline up and running by July-August.
Meet the potential new owners of Jet Airways: Kalrock Capital & Murari Lal Jalan
Murari Lal Jalan is a UAE based entrepreneur and has investments in several sectors like real estate, mining, trading, construction, fast-moving consumer goods, dairy, travel & tourism and industrial works globally, according to reports.
Jalan is the founder and Chairman of a realty firm by the name of MJ Developers, which is currently engaged in developing residential and commercial properties in Uzbekistan. However, he does not have any prior experience in aviation.