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Jet Airways Revival: The Kalrock Capital-Jalan consortium wins bidding

After 18 months, RP announced today that Jet Airways officially has a new owner in the investment company Kalrock Capital and UAE-based businessman Murari Lal Jalan. This comes after a week-long voting process between the two binding bidders. The consortium will now officially take control of Jet Airways in the coming days.
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Jet Airways is likely to return to the skies in the coming months. Photo: Getty images

In a statement to Moneycontrol, a board member of Kalrock said “I want to thank CoC and RP for managing the bankruptcy process. We look forward to engaging with Jet Airways stakeholders and restoring the airline’s fame and heritage. “

What is the plan for the future of Jet?

Now that Kalrock-Jalan has won the offer, they have the unenviable job of reviving the airline during a global pandemic. According to The Economic Times, the consortium plans to invest $ 136 million (1,000 kroner) in the airline over the next five years. This investment is likely to focus on aircraft maintenance and flight restarts.

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The consortium plans to invest $ 136 million to restart operations. Photo: Getty images

The road ahead will be difficult for Jet Airways. It remains unclear whether Jet will regain its previous slots at key domestic and international airports. However, if it does, the airline may have a much easier time starting domestic flights for now.

What will the new investors get?

Once the sales formalities are almost complete (the offer must be accepted by NCLT), we can now see what assets the new investors will receive. The airline currently has a fleet of 12 aircraft, including six 777, three A330 and three 737. After heavy maintenance, these aircraft can be made operational in a relatively short time.

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Jet Airways has a small fleet of 13 aircraft. Photo: Getty images

Apart from its fleet, the airline has little more assets, with most others being sold in the process of bankruptcy. However, the airline still has a strong brand value in India and worldwide, giving way when it restarts flights. We will be sure to keep you informed of all events in this transaction and when Jet Airways restarts flights!

What do you think about selling Jet Airways? Will you fly to the airline again? Let us know in the comments!

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