Indian airline, Jet Airways is preparing to return back to operations.
The airline halted operations in April 2019 due to financial difficulties. Before this, the airline was India’s biggest commercial airline.
The airline was taken over by the Kalrock Capital and Murari Jalan company. Kalrock is a UK-based company specializing in financial advising and asset management mostly in real estate and venture capital. Murari Jalan is a company operating in India and the UAE. It is also involved in real estate in addition to tourism.
The two companies will inject a total of USD 136 million into the airline in the next five years which will fund asset acquisition and allow it to recommence operations. The exact date for the airline’s return is unknown and the airline would most likely commence domestic operations before international operations.
Before ceasing operations due to massive debts calculated at USD 1.2 billion, the airline had a fleet of 90 places. The airline is based in Mumbai, India, and was estimated to have had a workforce of around 16,000 in 2017.
