Relief for Jet staff as lenders give nod to resolution plan

MUMBAI : Employees of Jet Airways (India) Ltd breathed a sigh of relief after the committee of creditors of Jet Airways approved a revival plan for the airline submitted by a consortium consisting of Kalrock Capital and Murari Lal Jalan.

However, there are still several uncertainties regarding the revival of Jet Airways, which was once India’s largest private airline. For starters, the slots owned by the airline at key airports, both domestic and international, have been redistributed to other airlines, which may resort to arbitration instead of letting go of the assets.

The new promoters of the airline will also have to invest in the carrier to make it ready to fly again.