The National Company Law Tribunal (NCLT) may have cleared the resolution plan for the bankrupt Jet Airways but it is far from certain the airline will take off soon. For one, the NCLT\u2019s nod is accompanied by a caveat that the airline must win the landing slots within 90 days. It won\u2019t be fair to re-allot the carrier all the erstwhile slots, but a more sensible way to have attempted closure would have been to rope in the government authorities and ensure it would get at least some of those quickly. Also, it is not enough to just take off, the operations need to become profitable soon enough. It is not quite certain that the new promoters\u2014ML Jalan, a Dubai-based businessman who dabbles in real estate and his foreign partner, the London-based financial advisory firm, Kalrock Capital\u2014have it in them to revive the business. Given the state of the economy and the aviation sector in particular, Jet Airways needed a strong promoter with deep pockets to be able to strengthen the balance sheet and sustain the operations until the carrier becomes profitable. A businessman who knows his way around the corridors of power and can convince the government to give the airline the necessary clearances quickly would probably have been more suited to the task.<\/p>\n","protected":false},"excerpt":{"rendered":"
The National Company Law Tribunal (NCLT) may have cleared the resolution plan for the bankrupt Jet Airways but it is far from certain the airline will take off soon. For one, the NCLT\u2019s nod is accompanied by a caveat that the airline must win the landing slots within 90 days. It won\u2019t be fair to re-allot the carrier all the erstwhile slots, but a more sensible way to have attempted closure would have been to rope in the government authorities and ensure it would get at least some of those quickly. Also, it is not enough to just take off, […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-422512","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=422512"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422512\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}