Just because a bid has been accepted for Jet Airways does not mean that the airline will magically be restored. Far from it.

While the National Company Law Tribunal (NCLT) is yet to give their assent to the bid submitted by Kalrock Capital and Murari Jalan for Jet Airways, the fact that the lenders voted for the deal means that approvals from NCLT and other government authorities might come soon. Sanjay Mandavia, a former Jet Airways pilot who had the losing bid has congratulated the winners although media reports have emerged where he claims that his plan was better. However, submitting a winning bid for whatever assets remain of the once storied airline, there is no guarantee that the airline will fly again. The winning bidders have promised lenders not just some money, although the banks will take a massive haircut on their advances to Jet Airways but also some equity.