Updated: November 3, 2020 2:18:48 pm
Last week, a group of lenders approved a bid by a consortium for revival of Jet Airways, which has been grounded since April 2019 for lack of funds. This could be the first step in a possible turnaround of India’s oldest private airline.
Jet Airways’ creditors have approved a resolution plan submitted by a consortium of UK-based Kalrock Capital and UAE-based businessman Murari Lal Jalan. Jalan was initially a paper trader who later diversified into various sectors such as real estate, mining, construction, FMCG, dairy, travel and tourism, and industrial works. He currently has investments in the UAE, India, Russia and Uzbekistan.
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