Kalrock-Jalan consortium receives NCLT nod to fly Jet Airways; stock up 5%
Shares of Jet Airways took a flight on Wednesday, hitting 5 per cent upper circuit at Rs 104 apiece on the BSE, as the Kalrock-Jalan consortium recieves nod to operate the airline again. Shares of the defunct airline are up 15.6 per cent in 3 trading sessions as against a 1 per cent gain in the frontline S&P BSE Sensex.
On Tuesday, the National Company Law Tribunal (NCLT) cleared the resolution plan submitted by the consortium, pavong way to re-start the airline that has been out of business since 2019. The consortium will now apply for the relevant government approvals before it can recommence operations.
