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Jalan Kalrock Consortium, the successful bidder tasked with resurrecting the grounded carrier Jet Airways, officially declared on Friday its infusion of an additional Rs 100 crore into the airline in accordance with the court-approved resolution plan.
The consortium also conveyed its expectation for the airline to resume operations next year, and the specific launch date is likely to be announced in the forthcoming days. Jet Airways has remained grounded since April 17, 2019.
"In a statement, the consortium declared, 'Today, Jalan Kalrock Consortium completed an additional infusion of Rs 100 crore, solidifying its unwavering dedication to the successful reinvigoration of Jet Airways.'
"The statement further elucidated, 'With this capital injection, the consortium has now fulfilled its entire financial commitment of Rs 350 crore in equity as stipulated by the court-approved resolution plan. All obligations of the consortium have been met, thus paving the way for it to assume control of this iconic airline.
The consortium reaffirmed its steadfast commitment to its unchanged strategy for the revival of the airline. Consequently, the consortium has fulfilled its entire financial obligation of Rs 350 crore, allowing it to assume ownership of Jet Airways, as stated in another consortium statement.
"The statement went on to note, 'The new owners are resolute in their ambition to have the airline's operations back on track in 2024,' with further announcements regarding the launch date for Jet Airways expected in the forthcoming weeks.
"At 11:45 am on Friday, Jet Airways was trading 5 per cent lower, with shares priced at Rs 55.91 each on the BSE.
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