Lenders impeding Jet Airways revival: Jalan Kalrock Consortium to NCLAT
The Jalan Kalrock Consortium (JKC), the successful bidder for Jet Airways, conveyed to the National Company Law Appellate Tribunal (NCLAT) on Friday that while they were prepared for a revival, the lenders to the airline were creating obstructions by filing cases across multiple forums.
JKC said that it possessed the Air Operator’s Certificate (AOC) for 2022-23, but was unable to commence operations because the Committee of Creditors (CoC) raised objections to its ownership at various stages. A CoC is a collective of lenders representing the interests of stakeholders in a company facing insolvency or bankruptcy.
