BENGALURU: India’s national company law tribunal has allowed the ownership of carrier Jet Airways to be transferred to a consortium, led by UAE-based businessman Murari Lal Jalan and London-based Kalrock Capital, two sources told Reuters.
Once India’s biggest private airline, Jet ran out of cash in April 2019. It was supposed to resume operations by the first quarter of 2022 under its new owners.
However, it is deadlocked with creditors over the resolution plan to lift the airline out of bankruptcy. Jet owes its lenders about $2.21 billion.
