Lagatar24 Desk
Mumbai, Sept 29: The Jalan-Kalrock Consortium, the protective new owner of Jet Airways, announced on Friday that it has finished injecting an extra 100 crore into the defunct airline and had met its commitment to do so for a total of 350 crore.
The Jalan-Kalrock consortium was given till September 30 by the National Company Law Appellate Tribunal (NCLAT) to pay debts totalling 350 crores to lenders of the grounded airline. This deadline was announced on August 28.
“With this infusion, Jalan-Kalrock consortium has now fulfilled its total financial commitment of ?350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline. The consortium’s strategy to revive the airline remains unaltered,” the consortium said in a statement.
Jet Airways should be operational by 2024, according to Jalan Kalrock. “Further announcements regarding the launch date of Jet Airways will be made in the coming weeks,” it added. Additionally, last week, the consortium provided Jet Airways with Rs 100 crore.
Jet Airways had a fleet of 124 narrow- and wide-body aircraft and served more than 65 domestic and international destinations before its operations were suspended in April 2019.
