Deadlock over carrier's revival: Banks not keen on sharing Jet's liability

Deadlock over carrier's revival after NCLAT order

Lenders to Jet Airways are not keen to share the additional liability of the carrier as demanded by the Kalrock-Jalan consortium, towards gratuity and provident fund, following last month’s National Company Law Appellate Tribunal (NCLAT) order.

The Kalrock-Jalan consortium had won the bid for Jet Airways in October 2020.

According to banking industry sources, the consortium demanded that all creditors share the additional liability — which is around Rs 200 crore — following the NCLAT order.

“This (liability) was not in the original resolution plan. If the original plan changes, it is like reopening the issue all over again,” said