MUMBAI: The National Company Law Tribunal (NCLT) on Tuesday approved a plan to revive the defunct Jet Airways submitted by UK’s Kalrock Capital and the UAE-based entrepreneur Murari Lal Jalan. The bankrupt airline has been grounded since April 2019.
The NCLT made it clear that the airline would not have any historic rights over time slots in airports and that the issue will be handled by the government or the appropriate authority. While government sources said that Jet would need to negotiate afresh for slots, the extremely low-capacity utilisation at airports due to the pandemic throws up opportunities.
