Jet Airways Revival: JKC Infused Rs 350 Crores, Prepares to Take Ownership

In a significant step towards the revival of India’s iconic airline, Jet Airways, the Jalan Kalrock Consortium (JKC) announced today the successful fulfilment of its financial commitment.

With this latest infusion of ₹100 crores, JKC has now met its total equity commitment of INR 350 crores as per the court-approved resolution plan. This achievement paved the way for the consortium to take ownership of the airline.

Jet Airways: A Legacy of Premium Air Travel

Jet Airways, once a symbol of premium air travel for discerning passengers in India, ceased its operations in April 2019. The airline had served over 65 destinations in India and across the world, operating 124 narrow-body and wide-body aircraft before its suspension.

A Historic Revival

Under the Insolvency and Bankruptcy Code and in accordance with the National Company Law Tribunal’s approved resolution plan, JKC has embarked on a historic journey to revive Jet Airways.

This endeavour marks the first instance in Indian aviation history where an airline is being rejuvenated under its original name after an extended grounding.

Vision for the Future

The consortium, led by well-capitalized and seasoned industry professionals, remains steadfast in its commitment to restoring Jet Airways to its former glory. Their vision is to create India’s most people-focused and customer-friendly airline, tailored for the Digital Age.

Must Read: Jet Airways Is Ready To Fly Again; What Happened to Ticket Refunds? When Will You Receive the Refund Credit?

A ‘Smart’ Full-Service Carrier

The new Jet Airways will be a ‘smart’ full-service carrier, featuring a two-class cabin configuration that includes a business-class cabin designed to global standards, and an evolved new-generation economy class that caters to the preferences of modern travellers.

Speaking on the occasion, a representative from JKC stated, “Our unwavering commitment to the successful resurgence of Jet Airways has culminated in the fulfilment of our financial obligations. We are dedicated to re-establishing the airline’s operations, with plans to have it up and running in 2024. Stay tuned for further announcements regarding the official launch date.”