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Four issues between lenders and Jalan-Kalrock delay Jet Airways take-off

In this complex game of claims and counter-claims, Jet Airways, which was supposed to take to the skies again by October this year, remains firmly on the ground

Jet Airways

The resolution plan says Jet Airways will use proceeds from aircraft lease rentals as working capital; lenders want the proceeds shared with them

Deepak Patel New Delhi
  • Who will pocket rent coming from the leased plane of Jet Airways?
  • Who will pay provident fund (PF) and gratuity dues to previous employees?
  • Can State Bank of India-led lenders ask Jalan-Kalrock Consortium (JKC) to give an undertaking that modifies the National Company Law Tribunal (NCLT)-approved resolution plan?
  • Has JKC fulfilled the conditions precedent (CPs), such as owning domestic airport slots and international traffic rights, mentioned in the resolution plan?
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India’s largest private airline, which went bankrupt

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First Published: Dec 18 2022 | 6:10 PM IST

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