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NCLT approves Jalan Kalrock Consortium resolution plan for Jet Airways

The Resolution Plan submitted by the Jalan Kalrock Consortium for the corporate insolvency resolution of Jet Airways (India) was approved by the National Company Law Tribunal (NCLT), Mumbai Bench. The Consortium awaits the written order by the National Company Law Tribunal approving the Resolution Plan and shall inform all stakeholders on next steps for the revival of their beloved airline – Jet Airways.

The Consortium takes this opportunity to thank all the stakeholders who supported the Consortium in this long journey until now and the Consortium seeks their continued support and encouragement on the way forward.

The Consortium maintains its stand that it wants to work alongside the Ministry of Civil Aviation, the Directorate General of Civil Aviation and all its competitors to put Jet Airways back in the skies.

A statement from the Consortium said, “The journey until now has been extremely challenging yet satisfying and this would not have been possible without the continued support of the Committee of Creditors of Jet Airways, the Resolution Professional for Jet Airways, all the Advisors and Consultants of the Consortium and the millions of Jet Airways well-wishers and loyal customers across the Globe, who stood by us throughout the process. We are overwhelmed by the support. Our team will study the written order once issued by the Hon’ble National Company Law Tribunal and we will provide a detailed response on the next steps subsequently.”

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