Banks slowing down Jet takeover, says Jalan-Kalrock

Jet Airways’ revised plan of returning to the skies in November is facing rough weather, following a stand-off between the Jalan-Kalrock Consortium (JKC) and the airline’s lenders over pending gratuity and provident fund (PF) payments of Jet’s employees. This is the third deadline that the consortium will be missing in the past six months because the company has not been handed over to them by the creditors.