Jet Airways Receives Bankruptcy Court's Approval To Restart

Jet Airways becomes the first airline to restart its operation under India's Insolvency and Bankruptcy Code. The National Company Law Tribunal approved the resolution plan of the Kalrock-Jalan consortium on June 22. However, the company has to repay Rs 600 crores to creditors valid for 90 days after which it will need an extension from the tribunal. Jet Airways had suspended operations in April 2019 due to mounting debts.