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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The recent NCLT order boosts its chances of taking control of the grounded airline, but the lenders can still force a change in flight plan.
Editor's note: It’s 7.30 am UK time. Ankit Jalan is about to take a flight out of Dublin, after attending the Airline Economics conference that had the world’s largest aircraft manufacturers, leasing companies and financiers in attendance. He is a nephew of Murari Lal Jalan—who is one half of the Jalan-Kalrock consortium, the successful resolution applicant in the Jet Airways bankruptcy proceedings—and was in the Ireland capital to help kick-start the revival of the grounded airline. Just a week ago, the consortium got a fresh boost. In an order on 13 January, the Mumbai bench of the National Company Law Tribunal allowed JKC to assume ownership of Jet Airways. Not just that. The tribunal shot down nearly every argument put forward by Jet Airways’s lenders, who over the past few months had contended that the consortium hadn’t fulfilled conditions precedent to the transfer of ownership. The lenders, led by the State Bank of India, had also questioned the viability of JKC’s resolution plan, leading to murmurs that they now preferred the airline’s liquidation. The NCLT’s order has handed the consortium a “breakthrough”, …
The recent NCLT order boosts its chances of taking control of the grounded airline, but the lenders can still force a change in flight plan.
Editor's note: It’s 7.30 am UK time. Ankit Jalan is about to take a flight out of Dublin, after attending the Airline Economics conference that had the world’s largest aircraft manufacturers, leasing companies and financiers in attendance. He is a nephew of Murari Lal Jalan—who is one half of the Jalan-Kalrock consortium, the successful resolution applicant in the Jet Airways bankruptcy proceedings—and was in the Ireland capital to help kick-start the revival of the grounded airline. Just a week ago, the consortium got a fresh boost. In an order on 13 January, the Mumbai bench of the National Company Law Tribunal allowed JKC to assume ownership of Jet Airways. Not just that. The tribunal shot down nearly every argument put forward by Jet Airways’s lenders, who over the past few months had contended that the consortium hadn’t fulfilled conditions precedent to the transfer of ownership. The lenders, led by the State Bank of India, had also questioned the viability of JKC’s resolution plan, leading to murmurs that they now preferred the airline’s liquidation. The NCLT’s order has handed the consortium a “breakthrough”, …
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
The Manoj Chacko-led regional airline has had a promising start. Will the lessons of the past keep it on course while it expands?
The Tata Group’s silence and absence from Ahmedabad on the first anniversary of India’s worst air disaster risks putting a dent in its much-vaunted value system.
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
The Manoj Chacko-led regional airline has had a promising start. Will the lessons of the past keep it on course while it expands?
The Tata Group’s silence and absence from Ahmedabad on the first anniversary of India’s worst air disaster risks putting a dent in its much-vaunted value system.
