Jet Airways lenders approve bid by Kalrock Capital-Murari Jalan

Eighteen months after Jet Airways (India) Ltd shut down its operations, the lenders of the airline on Saturday approved the resolution plan submitted by UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline.

The airline, which was grounded on April 17, 2019 due to acute fund crunch under the ownership of founder Naresh Goyal, will now be controlled by Kalrock and Jalan. “The e-voting concluded today, i.e., October 17, 2020 and the resolution plan submitted by Murari Lal Jalan and Florian Fritsch have been duly approved by the CoC (Committee of Creditors) under Section 30(4) of the Code as the successful resolution plan,” Ashish Chhawchharia, the resolution professional appointed by the lenders of the airline said in a stock exchange filing.