Business News

Jet Airways’ Second expected will depend upon retrieve slots

Spread the love

Getting its slots given to other Indian carriers back are going to be a key think about Jet Airways taking to the skies again under new owners. “The airline has 12 aircraft on its books, nine wide body and three narrow body Boeing 737-800. So 10 aircraft are in India and therefore the consortia’s plan is to restart the airline with a couple of additional narrow body planes within the next six months.

The winning consortia, London-based Kalrock Capital and UAE businessman Murari Lal Jalan, are likely to initially put in Rs 400 crore and infuse about Rs 650 crore altogether within the first year for Jet-2.0 to require to the skies again. Jet-1.0 was grounded on April 18, 2019. In first two to 3 years, an investment of about Rs 2,000 crore will come from the consortia and income is additionally expected to resume with ticket sales once the airline starts flying again.

The upfront payment, some payment are going to be made to lenders per annum . The hope: rather than writing off all debt to Jet-1.0, get some a refund and if Jet-2.0 is successful then cut the losses through gain in stake value.

The consortia is probably going to possess a mixture of existing Jet employees and new employees.

News Source

Read Similar News

Recent Posts

New Haryanvi Song “Bahu Chaudhariya Ki” Launched by Aman Jaji and Pranjal Dahiya

HR Beat Production has unveiled its latest Haryanvi hit, "Bahu Chaudhariya Ki," featuring artists Aman…

2 days ago

Apple’s iPhone 16 Pro Max: Improved Battery Life and Camera Features, but Missing Key AI Updates

Apple's highly anticipated iPhone 16 series is set to launch on Friday, with the flagship…

2 days ago

Music Director Vipin Reshammiya, Father of Himesh Reshammiya, Passes Away at 87

Vipin Reshammiya, father of Himesh Reshammiya, has passed away at the age of 87. He…

2 days ago

“Stree 2” Global Box Office Report: Day 8 – Film Continues Strong Performance, Hits ₹428 Crore

On its eighth day at the box office, "Stree 2" has maintained its impressive momentum,…

4 weeks ago

Crack Box Office Collection Day 4: Vidyut Jammwal and Arjun Rampal’s Film Falls Short of ₹10 Crore Mark

On the fourth day since its release, the movie "Crack" managed to accumulate a mere…

7 months ago

Rakul Preet Singh and Jackky Bhagnani: Twinning in Pink-Golden Attire for Mehendi Ceremony

Rakul Preet Singh Shines in Pink, Golden, and Saffron Lehenga; Jackky Bhagnani Dons Pink and…

7 months ago

This website uses cookies.