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Jet Airways posts Q4 net loss of Rs 107 cr; NCLT approves resolution business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Jet Airways public shareholders to get 1 share for every 100 thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Kalrock-Jalan consortium meets DGCA , MoCA over Jet Airways’ slots March 15, 2021 A landing slot at an airport is an important asset for an airline as it gives the airline an edge over its competitors - FRANCIS MASCARENHAS A landing slot at an airport is an important asset for an airline as it gives the airline an edge over its competitors - FRANCIS MASCARENHAS× New owners assured that their request for reallocation will be considered: Sources Representatives of the Kalrock-Jalan consortium along with the court-appointed Resolution Professional met the Directorate General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MoCA) seeking re-allocation of Jet Airways’ erstwhile slots.
NCLT to consider the consortium’s offer tomorrow Lenders to Jet Airways will recover ₹1,183 crore over a five-year period, according to the debt resolution plan submitted by the Kalrock-Jalan combine. Of this, the first tranche, in cash, will be of ₹280 crore after 180 days of the new promoters taking ownership of the beleaguered airline. And, a second cash tranche of ₹195 crore will follow in 730 days. The balance will be paid through a mix of cash, asset sale and from the cash flows generated by the airline every year. In effect, the new owners will acquire controlling stake in Jet for a cash consideration ₹475 crore.