Aviation News

Jet Airways’ lenders claim JKC has not paid a penny, Infra News, ET Infra


The Committee of Creditors (CoC) of debt-laden Jet Airways on Friday said that it has not received any money from the Jalan Kalrock Consortium. It also said that the insolvency resolution plan is yet to be implemented.

The consortium has however said that it will have to shell out additional amount than what was approved if Punjab National Bank’s additional liability Rs 202 crore is accepted. The matter has been scheduled for hearing on October 3, 2023.

Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier Jet Airways, had earlier said it has deposited Rs 100 crore in Jet Airways, taking the total investment in the airline to Rs 250 crore. “JKC confirms to have deposited Rs 100 crores in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the revival plans,” it had said in a statement.

Jet Airways has not flown since April 17, 2019.

The insolvency resolution proceedings against the carrier began in June 2019 and the National Company Law Tribunal (NCLT) approved the resolution plan submitted by the consortium in June 2021.

  • Published On Sep 24, 2023 at 01:29 PM IST

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