JET AIRWAYS TO MAKE A COMEBACK

A CONSORTIUM OF investors consisting of Kalrock Capital and entrepreneur Murari Lal Jalan o cially won the bid to take over Jet Airways, making them the new owners of the airline. However, neither of the new investors seem to have a background in aviation. Kalrock Capital and Jalan plan to invest $136 million into Jet Airways over the next ve years, to aid the airline’s revival with new management and the acquisition of assets.

e crisis-hit airline had announced its temporary shutdown back in April 2019; thereby leaving more than 20,000 employees unemployed and grounding its 97 aircra . Jet Airways went into bankruptcy in June 2019 a er it failed to repay the mounting debt of $1.2 billion. jetairways.com