JET AIRWAYS -- I'm back
Jet Airways, Jalan Kalrock Consortium's plan to operate Jet Airways, has been approved by The National Company Law Tribunal, NCLT. Due to credit crunch and financial distress for more than couple of years, Jet Airways was forced to land all it's planes On April 17, 2019. However, the company's financial distress will soon come to an end. The company was declared bankrupt, after it failed to pay Rs 8,000 crore to the State Bank of India. In this context, the resolutions of Jalan Kalrock Consortium has been accepted by NCLT. Jalan Kalrock Consortium seems to implement the plan to operate the plane within 90 days. However, no decision has taken yet, where to land the planes.