Brief Timeline Of Jet Airways Insolvency Resolution

A brief timeline of the insolvency resolution process of Jet Airways, which started off as an air tax operator in 1993 and became a scheduled carrier in 1995.

April 17, 2019:

Cash-starved Jet Airways suspends operations.

June 20, 2019:

National Company Law Tribunal (NCLT) insolvency petition filed by SBI-led lenders' consortium.

March 13, 2020:

Jet Airways seek more time for resolution process from NCLT after failing to attract any bidders.

March 18, 2020:

NCLT allows more time for resolution process.

June 14, 2020:

NCLT allows Jet Airways to sell its premises in Bandra Kurla Complex (BKC), Mumbai to settle claims, clear overseas debt.

October 17, 2020:

Committee of Creditors (CoC) approves Jalan Kalrock Consortium's resolution plan. The consortium also asks for restoration of slots on the basis of historicity.

February 25, 2021:

NCLT grants more time to aviation regulator DGCA to respond to airline's request for slots.

March 9, 2021:

DGCA and the civil aviation ministry refuse to give any assurances on slots in an affidavit submitted to NCLT.

June 3, 2021:

Ministry tells NCLT that Jet Airways does not qualify for grant of slots on the basis of historic precedence

June 22, 2021:

National Company Law Tribunal (NCLT) approves Jalan Kalrock Consortium's resolution plan; says slot allocations will be decided by the ministry or appropriate authority.

(PTI)