Jalan-Kalrock runs into a lenders’ wall on Jet Airways revival

The consortium’s missed payment deadlines and talent exodus are compounded by an increasingly mulish set of lenders, derailing its attempt to get the airline flying again.

“The Jalan-Kalrock consortium believes that Jet Airways will fly. 100%,” says a senior industry executive.

The confidence seems misplaced. After all, the consortium has been struggling to revive the airline since winning the bid to do so back in June 2021. More so because it's been just a few weeks since the airline’s CEO-designate Sanjiv Kapoor quit. Kapoor had held senior positions in SpiceJet and Vistara and since joining the consortium in April 2022, had stoically defended the revival attempt in public forums. 

His exit, coming within days of Jet Airways’s company secretary and accountable manager also calling it quits, …


Prince M. Thomas

Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.

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