Jet Airways may start domestic flights after March 2022

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Jet Airways may start domestic flights after March 2022
  • Shares of Jet Airways surged 5% today on reports that the airline is expected to resume its operations soon.
  • The airline has been grounded since April 2019 and is currently awaiting a bankruptcy resolution.
  • Check out the latest news and updates on Business Insider.
Jet Airways may resume its domestic flights the first quarter of the next financial year that starts from April 1, 2022, said reports citing the new promoters of the defunct airline as source.

Shares of Jet Airways surged 5% today on reports that the airline is expected to resume its operations soon. The new owners of Jet Airways are Murari Lal Jalan, a businessman based in the United Arab Emirates, and the London-based Kalrock Capital.

AirlineStock price change on Sep 13
Jet Airways4.98%
Interglobe Aviation (which operates IndiGo flights)-1.4%
SpiceJet0.79%
*Share price as at 11:15 a.m

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The airline has been grounded since April 2019 and is currently awaiting a bankruptcy resolution. Meanwhile, one of its lenders, Punjab National Bank, which had earlier approved the resolution plan, has approached the National Company Law Appellate Tribunal (NCLAT) with an appeal against it.

One of its airplanes, a Boeing B777-300(ER), which was seized in the Netherlands for unpaid dues has now been sold off.

SEE ALSO: rom BPCL to BEML, four government companies to watch out for as India's Defence Minister prepares for a disinvestment meeting

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