NCLT to hear Jet revival plan on Dec. 11

New Delhi, December 7: The NCLT is expected to take up Jet Airway’s revival plan prepared by the consortium led by Murari Lal Jalan and Kalrock Capital and approved by the airline’s resolution professional, later this week.

The consortium has said that Jet aimed to be back in the skies by the summer of 2021 as a full-service carrier, provided its domestic slots at various airports are returned to it. These were reallocated by the government to other Indian carriers, after Jet shut operations in March last year.

The National Company Law Tribunal (NCLT) is likely to hold the next hearing on December 11, when it is expected to take up the revival of Jet Airways, The Hindu reported.

“The Jet 2.0 hubs will remain in Delhi, Mumbai, and Bengaluru like before. The revival plan proposes to support Tier 2 and Tier 3 cities by creating sub-hubs in such cities,” the consortium said. It added that it would also like to take advantage of the potential of cargo services once distribution of COVID-19 vaccines starts in India.

https://www.thehindu.com/business/nclt-to-hear-jet-revival-plan-on-dec-11/article33272951.ece