Amid the continuing uncertainty over the fate of grounded Jet Airways, the Jalan Kalrock Consortium on Friday said it has not breached any terms of the insolvency resolution plan and might take difficult near-term decisions to manage cashflows.
The consortium’s resolution plan was approved by the National Company Law Tribunal (NCLT) in June last year but the airline, which also got its air operator certificate revalidated by aviation regulator DGCA in May this year, is yet to start operations.
“… while we await the handover of the company as per the NCLT process, the longer-than-expected time being taken for the same may result in some difficult but necessary near-term decisions to manage our cashflows to secure the future while the airline is still not in our possession,” the Jalan Kalrock Consortium (JKC) said in a statement.
