The Jalan Kalrock Consortium (JKC), the prospective new owners of Jet Airways, has injected an additional Rs 100 crore in the airline, reinforcing their commitment to its revival. This brings JKC’s total equity investment to the court-approved Rs 350 crore, solidifying their takeover of the iconic airline.
Their revival strategy remains unchanged, with plans to have the airline back in operation by 2024. The company will share details on the relaunch date in the coming weeks.
Jet Airways, originally established in 1993, was known for its premium air travel services in India, operating a fleet of 124 narrow-body and wide-body aircraft, serving over 65 destinations globally. It suspended operations in April 2019.
The airline’s revival is being carried out under the Insolvency and Bankruptcy Code, following the National Company Law Tribunal (NCLT) approved resolution plan of the Jalan Kalrock Consortium. This marks a unique instance in Indian aviation history, where an airline is being resurrected under its original name after a prolonged grounding.
The new Jet Airways will operate as a full-service carrier, with a two-class cabin configuration, featuring a globally standardised business-class cabin, and an updated economy class to meet the needs of modern travelers.