Jet Airways plan to revive operations after 17 months | TYHO NEWSPAPER




Jet Airways plan to revive operations after 17 months

Oct 19 , 2020

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Jet Airways and its employees latch on to a ray of hope with a potential revival plan by a panel of creditors after a period of 17 months. The latest BSE filing on Saturday approves a resolution plan put forward by Florian Fritsch and Murari Lal Jalan.  Once the bid is approved by the National Company Law Tribunal or the NCLT, Fritsch and Jalan will be the new owners of the airline.

Although this is a major development for the airlines, the recommencement of its operations is uncertain according to Kapil Kaul, the head of CAPA India, because the terms accepted by Jet Airways’ creditors did not make sense to the CAPA. The decision to start flying again will depend on the new owners of Jet Airways after the NCLT gives the final approval.








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