A day after the plan to put Jet Airways back in business got approval, experts have said that it is going to be “very tough and uncertain”. The carrier’s creditors approved a multi-million dollar resolution plan on Saturday under which Jet Airways would be acquired by an investor consortium.
However, experts say the road ahead is very long. “The path to restart operations is very tough and uncertain,” aviation advisory and research practice CAPA India head Kapil Kaul told news agency PTI.
The plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan comes after months of talks over the airline’s future and was confirmed in a regulatory filing, which gave no details of the deal.
The plan will now be submitted to the NCLT for its final approval. If the court allows, the airline’s new owners would have the task of taking it off the ground again at a time when the aviation industry globally is in financial distress due to the coronavirus disease (Covid-19) pandemic.