Jet Airways revival: Jalan-Kalrock accept bank call to infuse more capital

The consortium had 270 days to fulfil all criteria required for the plan's implementation

With the Jalan-Kalrock consortium resolution strapped firmly in place, Jet Airways is a step closer to getting airborne. The new promoter of the carrier has agreed to the demands made by banks for infusion of capital, thereby clearing the decks for the airline’s smooth lift-off.

At a meeting held last week, lenders asked the Jet Airways management to bring in capital before restarting operations.

“They agreed to bring in capital,” said a banker.  Jet Airways declined to comment when contacted.

The first tranche of capital may come within a week. Two years ago, the consortium of Murari Lal Jalan and Kalrock Capital won