NEW DELHI: Rekindling hope for Jet Airways to fly again, the grounded-since-last-April airline’s committee of creditors has approved a revival plan submitted by a consortium of London-based Kalrock Capital and UAE businessman Murari Lal Jalan.

The airline may fly by mid next year if this JV is able to raise the required funds through a mix of measures like infusing equity of about Rs 1,000 crore; selling the six old planes owned by Jet to get a few new ones and offering equity to lenders.

While financial troubles for Jet had started worsening two years back, India’s oldest private airline that started operating in May 1993 ran out of funds completely last year and had its last flight on April 18, 2019, — days short of its 26th birthday. Since then attempts were being made to somehow make the airline take to the skies again.

source: timesofindia