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Jet Airways, final stages for insolvency process

A legal question had to be resolved

Exactly a year and a half: a long time passed since all the flight operations of Indian airline Jet Airways ceased definitively (read also the article published by AVIONEWS). In the last few hours, a legal issue seems to have been resolved that had even cast doubt on the process that is leading to the insolvency of the Asian airline. This phase began more than a year ago, to be precise in June 2019 and a series of delays and obstacles complicated the path. In practice, the offer by farm Fstc-Imperial Capital did not convince from an economic and judicial point of view.

This company and the Kalrock Capital consortium are vying for the best offer relating to the resolution of Jet Airways; both plans were considered valid for approval, although electronic voting will be required to decide which of the two to choose in coming days. The majority required during the assessment must be at least 60%. However, the airline's situation remains complex. The banks are still waiting for 80 billion rupees (929 million euros specifically), but the process for the resolution of the carrier must necessarily end in a short time, that is to say no later than next 21 October. In India, meanwhile, the difficult rescue of Air India is being discussed with fervor, as also analyzed by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency