{"id":108705,"date":"2023-09-01T12:30:43","date_gmt":"2023-09-01T07:00:43","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108705"},"modified":"2023-09-01T12:30:45","modified_gmt":"2023-09-01T07:00:45","slug":"jalan-kalrock-consortium-contributes-an-additional-rs-100-cr-to-jet-airways-under-revival-plan","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/jalan-kalrock-consortium-contributes-an-additional-rs-100-cr-to-jet-airways-under-revival-plan\/","title":{"rendered":"Jalan Kalrock Consortium contributes an additional Rs 100 Cr to Jet Airways under revival plan"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2149961608\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The winning bidder, Jalan Kalrock Consortium, announced on Thursday that it has invested an additional Rs 100 crore in Jet Airways, bringing its total investment in the airline to Rs 250 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1454588747\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>&#8220;JKC confirms to have deposited Rs 100 crores in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the revival plans,&#8221; it said in a statement.<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/JETAIRWAYS\/standalone?defaul=true\" target=\"_blank\" rel=\"noreferrer noopener\">Jet Airways<\/a><\/strong> has not flown since April 17, 2019.<\/p><p>&#8220;With this infusion, JKC has now invested Rs 250 crore in Jet Airways and now is only required to fund the remaining Rs 100 crores in Jet Airways by September 30, 2023, to take control of the airline,\u201d the consortium said in the statement.<\/p><div class=\"trade-content_5\" id=\"trade-3390022756\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The insolvency resolution proceedings against the carrier began in June 2019 and the National Company Law Tribunal (NCLT) approved the resolution plan submitted by the consortium in June 2021.<\/p><p>However, the plan is yet to be implemented.<\/p><p>According to the company filing, total standalone revenue increased by 138% YoY from Rs. 13.10 Cr in Q1 FY23 to Rs. 39.08 Cr in Q1 FY24 and the company reported a net loss of Rs. 50.65 Cr in Q1 FY24 against a loss of 390.11 Cr in Q1 FY23.<\/p><p>An international airline based in India is Jet Airways (India) Ltd. The primary business operations of the corporation involve domestic and international passenger and cargo transportation. Tickets for travellers can be purchased there and through mobile apps.<\/p><div class=\"trade-after-content\" id=\"trade-3184493916\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The winning bidder, Jalan Kalrock Consortium, announced on Thursday that it has invested an additional Rs 100 crore in Jet Airways, bringing its total investment in the airline to Rs 250 crore. &#8220;JKC confirms to have deposited Rs 100 crores in Jet Airways in less than 48 hours of the NCLAT allowing implementation of the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":41459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-108705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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