Jet Airways is looking to take-off once again. The Jet Airways airline which has been grounded for over twelve month now is reportedly all set to submit its revival plan to National Company Law Tribunal this week. The revival plan states that the company will propose upfront payment of Rs 487 crore to creditors in the initial stage. The plan comprises payment of Rs 500 crore in a delayed manner after restarting. The airline will be on focus on cargo and international operations. Sources told the channel that the operating plan will be of international, cargo and domestic

When is Jet Airways expected to start operations?- The next step is for the lenders to get an consent for the resolution plan from the National Company Law Tribunal (NCLT). Once the NCLT approval is in, the investors are ready to take the airline to the skies within 6 months, people in know of the matter have said. However, things may not turn out to be quite as clear-cut. The new investors are said to be eyeing at investing Rs 1,000 crore into Jet Airways, but it is not clear at this point whether the fund would be used towards repaying the creditors, vendors, employees, etc., or towards getting the airline back on its feet.

The major concerns that have to be addressed before a potential revival of Jet Airways is that  the new investors will have to re-negotiate contracts with various vendors including fuel retailers, aircraft, caterers, etc., that will be crucial for flight operations.

Is Jet Airways getting a new owner?

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