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Jet airways aircrafts are seen parked at chhatrapati shivaji maharaj international airport in mumbai.
Jet airways india. Jet airways went into bankruptcy in 2019 after it failed to repay mounting debt. However it has finally managed to find a new owner. Jet airways insolvency process had innumerable twists and delays that prompted many to write it off. Indias jet airways would be acquired by an investor consortium under a multi million dollar resolution plan approved by the carriers creditors on saturday.
Approved a resolution plan for the bankrupt airline. Jet airways india ltd is an indian international airline based in mumbai india which is currently grounded from operations since 17 april 2019. The consortium will. Approved a resolution plan for the bankrupt airline bringing a 16 month long process to recover dues to lenders closer to completion.
From the third quarter of 2010 onward jet airways was the largest commercial passenger airline in india with a passenger market share of 226. Bankrupt jet airways indias biggest private airline could take to the skies again if a consortiums plan to revive the carrier is approved photo. With its competitors mainly spicejet and indigo lowering ticket fares in the following years it was. A panel of creditors to jet airways india ltd.
Oct 17 2020 0825pm ist source. Rekindling hope for jet airways to fly again the grounded since last april airlines committee of creditors has approved a revival plan submitted by a. A panel of creditors to jet airways india ltd. Creditors on saturday backed a surprise plan by a consortium to revive jet airways 18 months after indias biggest private airline went bankrupt with us12 billion in debt.
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