India’s National Company Law Tribunal finally approved the resolution plan for long grounded airline Jet Airways. The plan was filed by owners Kalrock Capital and UAE-based entrepreneur Murarilal Jalan. The airline was grounded over two years ago.
The consortium is required to get the necessary licences within 90 days to restart the airline.
There are still issues over key airport slots that Jet Airways owned when it folded. The slots were later issued on a temporary basis to other airlines which the Ministry of Civil Aviation and regulator Directorate General of Civil Aviation say cannot simply be regained by Jet.
