Jet Airways Revival

Jet Airways Revival Update, Kalrock Capital will be the new owner of Jet Airways.

Jet Airways, which was grounded on April 18 2019, is all set for a comeback. An association of UK-based asset management company Kalrock Capital and UAE entrepreneur Murari Lal Jalan is reportedly considering investing around Rs 1,000 crore in the Cash-strapped Jet Airways over the next five years. Also, the group is ready to give collateral as per the proposed resolution plan.

This Thursday there are some sources reported that Kalrock Capital has won the bid of Jet Airways but, In a notification to the stock exchanges, the resolution professional of the Jet Airways said the committee of creditors (CoC) has not concluded e-voting on the final resolution plans submitted by two shortlisted bidders.

Kalrock is ready to Invest in Rs 380 crore in phases in the first two years and another Rs 580 crore in years three to five, and agreed to provide collateral of Rs 250 crore as security. It has also pledged cash to creditors from year three onwards irrespective of what happens to the carrier. Lenders are being “offered 9.5 per cent equity during the restructuring period,” one person m involved in finalising the resolution plan told ET.

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Jet Airways Revival Update, Kalrock Capital Confirm they are new Owner for Jet Airways

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