Creditors Approve Bid for India’s Jet Airways

Even as Covid-19 has devastated the aviation industry globally, a resolution plan submitted by a consortium of London-based asset management company Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to bid for Jet Airways has won the approval of creditors including major public sector banks. The consortium will invest $136 million in a phased manner over the next five years. The debt-laden airline shut operations last year in April. Ashish Chhawchharia, national head of restructuring… (www.ainonline.com) Altro...