Kalrock to pilot Jet Airways take-off with Rs 1,000-crore investment

While Jet has admitted claims of over Rs 15,000 crore, the resolution plan consists of Rs 866 crore in upfront and deferred payment to creditors

Jet Airways

A portion of the sum will be used to cover insolvency resolution costs

Aneesh PhadnisAbhijit LeleSubrata Panda Mumbai
The Kalrock Capital-Murari Lal Jalan consortium has proposed to re-launch Jet Airways as a full-service carrier, with an initial investment of Rs 1,000 crore.
It has initiated discussions with lessors and international airlines for contracts and partnerships.
On Saturday, the committee of creditors voted in favour of the Kalrock-Jalan consortium over the FSTC-Imperial Capital combine. The winning bid attracted over 99 per cent votes, with lenders overwhelmingly voting for a revival instead of recovery through liquidation.

First Published: Oct 19 2020 | 01:25 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com