October 29, 2020 6:25:09 pm
Final week, a gaggle of lenders approved a bid by a consortium for revival of Jet Airways, which has been grounded since April 2018 for lack of funds. This could possibly be step one in a attainable turnaround of India’s oldest non-public airline.
Jet Airways’ collectors have permitted a decision plan submitted by a consortium of UK-based Kalrock Capital and UAE-based businessman Murari Lal Jalan. Jalan was initially a paper dealer who later diversified into numerous sectors resembling actual property, mining, building, FMCG, dairy, journey and tourism, and industrial works. He at the moment has investments within the UAE, India, Russia and Uzbekistan.
📣 The Indian Specific is now on Telegram. Click on here to join our channel (@indianexpress) and keep up to date with the newest headlines