Jet Airways aircraft are seen parked on the tarmac at Chhatrapati Shivaji International Airport in Mumbai. (Express Photo by Pradip Das)A brief timeline of the insolvency resolution process of Jet Airways, which started off as an air tax operator in 1993 and became a scheduled carrier in 1995.
April 17, 2019 — Cash-starved Jet Airways suspends operations
June 20, 2019 — National Company Law Tribunal (NCLT) insolvency petition filed by SBI-led lenders’ consortium
March 13, 2020 — Jet Airways seek more time for resolution process from NCLT after failing to attract any bidders
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March 18, 2020 — NCLT allows more time for resolution process
June 14, 2020 — NCLT allows Jet Airways to sell its premises in Bandra Kurla Complex (BKC), Mumbai to settle claims, clear overseas debt
October 17, 2020 — Committee of Creditors (CoC) approves Jalan Kalrock Consortium’s resolution plan. The consortium also asks for restoration of slots on the basis of historicity
February 25, 2021 — NCLT grants more time to aviation regulator DGCA to respond to airline’s request for slots
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March 9, 2021 — DGCA and the civil aviation ministry refuses to give any assurances on slots in an affidavit submitted to NCLT
June 3, 2021 — Ministry tells NCLT that Jet Airways does not qualify for grant of slots on the basis of historic precedence
June 22, 2021 — National Company Law Tribunal (NCLT) approves Jalan Kalrock Consortium’s resolution plan; says slot allocations will be decided by the ministry or appropriate authority.
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First published on: 22-06-2021 at 04:59:55 pm
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