Kalrock-Jalan to pay Rs 1,183 crore to Jet’s creditors over 5 years
The Kalrock-Jalan consortium will pay Rs 1,183 crore over five years to financial creditors, workmen and employees of bankrupt carrier Jet Airways NSE 4.97 %, a mere 9%-14% of what they had claimed, according to the resolution plan that was presented to India’s bankruptcy court on Tuesday.
Outside of the resolution plan, the consortium has also offered to buy 51% of Etihad Airways’ stake in Jet’s loyalty programme, Jet Privilege now renamed Intermiles.
