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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.
Slapped with additional liabilities, the Jalan-Kalrock consortium suggests lenders take a further cut in their share of the agreed payment. But with the banks playing hardball, is there hope for the airline’s revival?
Editor's note: The Jet Airways revival story has been years in the making with challenges continuing to crop up. Two weeks ago, the National Company Law Appellate Tribunal slapped additional liabilities on the airline’s new owner. The Jalan-Kalrock consortium was told to clear gratuity and provident fund dues of Jet Airways workmen accrued till June 2019, when the insolvency proceedings began. The appellate tribunal gave the resolution professional 30 days to compute the amount to be paid. This means that the revival of the airline now hinges on hard-nosed negotiations between the consortium and the banks. In its first comment following the 21 October order, the consortium took a firm line in its response to queries from The Morning Context. While reaffirming its commitment “to the relaunch of Jet Airways and to recapture the lost glory”, the consortium’s spokesperson said, “The NCLAT orders do not impact JKC or their plans for the revival of Jet Airways as their liabilities towards erstwhile creditors is capped and all claims will have to be settled within the said capped amounts.” The last part of the …
Slapped with additional liabilities, the Jalan-Kalrock consortium suggests lenders take a further cut in their share of the agreed payment. But with the banks playing hardball, is there hope for the airline’s revival?
Editor's note: The Jet Airways revival story has been years in the making with challenges continuing to crop up. Two weeks ago, the National Company Law Appellate Tribunal slapped additional liabilities on the airline’s new owner. The Jalan-Kalrock consortium was told to clear gratuity and provident fund dues of Jet Airways workmen accrued till June 2019, when the insolvency proceedings began. The appellate tribunal gave the resolution professional 30 days to compute the amount to be paid. This means that the revival of the airline now hinges on hard-nosed negotiations between the consortium and the banks. In its first comment following the 21 October order, the consortium took a firm line in its response to queries from The Morning Context. While reaffirming its commitment “to the relaunch of Jet Airways and to recapture the lost glory”, the consortium’s spokesperson said, “The NCLAT orders do not impact JKC or their plans for the revival of Jet Airways as their liabilities towards erstwhile creditors is capped and all claims will have to be settled within the said capped amounts.” The last part of the …
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?
A drop in employee costs, despite the need to hire pilots under the new DGCA norms, raises fresh concerns about IndiGo’s staffing, and its vulnerability to a December 2025-scale disruption.
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?
A drop in employee costs, despite the need to hire pilots under the new DGCA norms, raises fresh concerns about IndiGo’s staffing, and its vulnerability to a December 2025-scale disruption.
