[volkman10]

Amid re-launch uncertainty senior management, pilots, cabin crew exit the airline.




Link

[BoneCollector]

Apparently Jet Airways is just 4 weeks away from the deadline set by NCLT to pay it's existing dues and salaries.


Jet Airways Deadline

The clock is ticking for Jalan-Kalrock Consortium (JKC) as its 180-day deadline to pay off the creditors and employees of the grounded erstwhile Jet Airways is now less than four weeks away.

National Company Law Tribunal (NCLT) had given the consortium of Dubai-based entrepreneur Murari Lal Jalan and the UK's Kalrock Capital six months from when the resolution plan had come into effect (November 16, 2022) to settle the dues.

In addition to payments, JKC owes Rs 185 crore to the lenders of Jet Airways. The consortium is also to pay an estimated amount of Rs 250 crore to the airline’s former employees by May 14.

In April 2019, Jet Airways was grounded over rising financial liabilities of about Rs 8,000 crore. The airline's Committee of Creditors (CoC), in October 2020, approved the consortium's revival plan.

[SedateGuy]

No one will be more astonished than me if Jet Airways ever flies again. Dunno what they are buying with all the headaches involved in settling the old creditors.

[BoneCollector]

Jet Airways down forever? The CEO designate Mr. Sanjiv Kapoor has quit.


Sanjiv Kapoor Quits

Grounded airlines Jet Airways' CEO-designate Sanjiv Kapoor quit the airline, sources said. His last day at the office was today, 28 April, 2023. The aviation veteran had joined Jet Airways as their Chief Executive Officer (CEO) on 4 April, 2022.

[volkman10]

Jet Airways founders accused of embezzling funds meant for airline operations.

The Central Bureau of Investigation (CBI) on Friday conducted raids at seven locations including the premises of Jet Airways and its founder Naresh Goyal in Mumbai in connection with a bank fraud case. The CBI raided Naresh Goyal's residence and Jet Airways' Mumbai office over an alleged Rs 538-crore fraud case in Canara Bank.

The agency has also registered an FIR against Naresh Goyal, his wife Anita, former director of the airline Gaurang Ananda Shetty and an unknown public servant. The FIR was lodged on Wednesday by an official of the Canara Bank alleging that all the accused caused a wrongful loss of Rs 538.62 crores to the said bank.

Canara Bank has alleged that this transaction delineated that the JIL was transferring borrowed funds to subsidiary/Group companies by whatever modalities and not utilising funds for the intended purpose and that the company also siphoned off funds through payments made to professional and consultancy expenses.

Link

[BoneCollector]

Originally Posted by BoneCollector

Jet Airways down forever? The CEO designate Mr. Sanjiv Kapoor has quit.

Sanjiv Kapoor joins SAUDIA after quitting Jet Airways.

Link

[mpksuhas]

During a recent trip to Mumbai, noticed this

[montsa007]

Originally Posted by BoneCollector

Jet Airways down forever? The CEO designate Mr. Sanjiv Kapoor has quit.


Sanjiv Kapoor Quits

Checked their website, as of today still says Sanjiv Kapoor is the CEO. Same is the situation in Sanjiv's Linkedin Page.

Initially I thought it was a glitch, wherein nobody in Jet maintains the website, but the individual will atleast maintain his linkedin profile.

[binaiks]

Originally Posted by montsa007

Attachment 2460933

His LinkedIn page clearly shows he stopped working there in May 2023. His present employment status is also seen! Do you expect him to delete Jet Airway from his profile because he quit?

[montsa007]

Originally Posted by binaiks

His LinkedIn page clearly shows he stopped working there in May 2023. His present employment status is also seen! Do you expect him to delete Jet Airway from his profile because he quit?

Oh well, my bad on the linkedin part. What I meant is that the jet website should always stay updated with their senior team, since he isn't a part of it anymore shouldn't be shown there.

[RM Motorsports]

The Jet Airway's Air Operator Certificate has been renewed by DGCA. Hopefully one of India's favorite airlines takes to the skies again.

[skanchan95]

Originally Posted by RM Motorsports

The Jet Airway's Air Operator Certificate has been renewed by DGCA. Hopefully one of India's favorite airlines takes to the skies again.

These guys need a new Media head and a spellchecker!!! They 'invented' a new meaning of AOC. Just Read that release again - it says Airport Operator Certificate!!!!( should have been Air Operator's Certificate).

[libranof1987]

Originally Posted by RM Motorsports

The Jet Airway's Air Operator Certificate has been renewed by DGCA. Hopefully one of India's favorite airlines takes to the skies again.

Looks like it is just temporary (for now) to complete NCLT formalities.

The DGCA, however, said that the decision to extend the AOC’s validity was essentially in accordance with the extension granted by the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) till September 3 for the implementation of the approved resolution plan for the carrier

https://indianexpress.com/article/bu...rtium-8868787/

[volkman10]

The Enforcement Directorate (ED) arrested Jet Airways' founder Naresh Goyal on the night of September 1 in connection with a money laundering case liked to alleged bank fraud of Rs 538 crore at Canara Bank.

Link