The new owners of Jet Airways, Kalrock Capital and Murarilal Jalan, are planning to bring the Jet back in the sky by mid-2021. According to Business Line, the Kalrock-Jalan consortium is in talks with Boeing to get the deliveries of the aircraft by April.
Jet Airways was shut down on April 17, 2019, after 26 years of being in business, because of its inability to infuse funds and repay debt. The lenders to the airline approved a bid submitted by a consortium of Florian Fritsch of investment firm Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan.
Jet will accept the deliveries in three phases, starting with 7-8 Boeing 737 NGs, followed by Boeing 737 Max in Q3-Fy22 and Boeing 787-900s in Q1-FY23, sources told Business Line.
Manoj Madnani, a member of Kalrock Capital board, said: “No delivery schedule and no aircraft type have been finalised between the parties as of now.” The airline company currently has 12 aircraft in India and abroad.
Earlier in October, Ashish Chhawchharia, the resolution professional of the airline told CNBC-TV18 in an interview that Jet can fly within the next four to six months if all approvals are in place.
“Couple of conditions need to be fulfilled first, one is, of course, the NCLT’s nod - very important aspect and then the slots and the traffic routes, and we have already reached out to the relevant authorities. Now that we have reached this milestone, I think we can engage - the successful applicant can engage directly as well to see how we can quickly expedite this,” he said.
Meanwhile, the Mumbai bench of the National Companies Law Tribunal (NCLT) will hear the resolution plan submitted by the consortium on December 11.