How come the PSU banks are saving Jet Airways, but didn't do the same for Kingfisher?

sgiitk · 30th June 2019, 11:09

There are quite a few factors

1. Investor friendly govt.
2. Jet has some hope of surviving.
3. There is hope for some investor to be found.
4. Jet at one time was the biggest carrier. It was later dethroned by Indigo.

whitewing · 1st March 2020, 14:27

Quote:

Originally Posted by PapaBravo

There have been no refunds from Jet Airways for the flights. I am in the same boat and have around INR 1 lac stuck in airline. No news of refunds yet.

I'm also stuck with around a lakh due. My agent informs me that the money is 'probably' not lost and should be released post the NCLT process, whenever that happens.

PapaBravo · 2nd March 2020, 13:38

Quote:

Originally Posted by whitewing

I'm also stuck with around a lakh due. My agent informs me that the money is 'probably' not lost and should be released post the NCLT process, whenever that happens.

That is a relief. Would be great if you could put an update on this thread so that we can put pressure on our agents as well.

whitewing · 2nd March 2020, 22:10

Quote:

Originally Posted by PapaBravo

That is a relief. Would be great if you could put an update on this thread so that we can put pressure on our agents as well.

Not quite a relief, it only means - if and when a buyer is found for Jet, the monies currently frozen in the system will be released based on NCLT approval. Only hope is if customers are paid off before the lenders. Also, not sure how many years this will take.

RM Motorsports · 18th October 2020, 09:45

Some Good News ! Jet Airways could Soon Fly Again.

UK-based asset management company Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan are going to become the new owners of Jet Airways. The CoC approves Resolution Application submitted by Murari Lal & Florian Fristsch as successful resolution plan.

whitewing · 12th March 2021, 14:53

To fellow members having pending refunds from Jet Airways, have you received any information regarding the refunds?

30th June 2019, 11:09	#91
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: How come the PSU banks are saving Jet Airways, but didn't do the same for Kingfisher? There are quite a few factors 1. Investor friendly govt. 2. Jet has some hope of surviving. 3. There is hope for some investor to be found. 4. Jet at one time was the biggest carrier. It was later dethroned by Indigo.
	() Thanks

18th October 2020, 09:45	#95
RM Motorsports Senior - BHPian Join Date: May 2009 Location: Mumbai Posts: 1,271 Thanked: 5,176 Times	Re: How come the PSU banks are saving Jet Airways, but didn't do the same for Kingfisher? Some Good News ! Jet Airways could Soon Fly Again. UK-based asset management company Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan are going to become the new owners of Jet Airways. The CoC approves Resolution Application submitted by Murari Lal & Florian Fristsch as successful resolution plan. Attached Thumbnails
	(2) Thanks

12th March 2021, 14:53	#96
whitewing BHPian Join Date: Oct 2012 Location: Bangalore Posts: 561 Thanked: 1,584 Times	Re: How come the PSU banks are saving Jet Airways, but didn't do the same for Kingfisher? To fellow members having pending refunds from Jet Airways, have you received any information regarding the refunds?
	() Thanks