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Mon, Oct 21, 2019 | Last Updated 3:48 pm IST

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Is Jet Airways insolvency case moving in positive direction?

Is Jet Airways insolvency case moving in positive direction?
Is Jet Airways insolvency case moving in positive direction?
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Even though moving one step at a time, the Jet Airways insolvency case appears to be headed in a positive direction so far. Furthermore as already reported through these columns, the Synergy Group from south America has emerged as the possible suitor though there were still some hurdles to cross before things crystallize.

Is Jet Airways insolvency case moving in positive direction?

Reportedly the latest development is that the resolution professional (RP) appointed in the Jet Airways case has since organized meetings for the Group’s executives with the lenders to the airline and also with the officials at the Ministry of Civil Aviation. Further these meetings could be very crucial if the resolution is to make any further progress.



Moreover in the case of the Ministry of Civil Aviation, the thorny issue of the Synergy Group having interests in the airline business and therefore not permitted to hold more than 49% equity under the present laws and guidelines, exists. Apparently October 27 is the next significant date for the case since a proper resolution plan will have to be submitted by that date to the National Company Law Tribunal (NCLT) for its approval.


Is Jet Airways insolvency case moving in positive direction?
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