Jet Airways saga: Jalan Kalrock Consortium writes to monitoring panel’s authorized representative

The Jet Airways saga has been going on for a while now and the recently released news of the winning bidder, Jalan Kalrock Consortium, requesting the airline monitoring committee to not issue any communication on behalf of the grounded carrier without the approval of all the members of the committee has put the further spotlight on the entire matter.

The Jet Airways saga is one of the most discussed topics in the aviation sector. After the airline was grounded in April 2019 due to financial woes, the resolution process was initiated but it has been mired by delays and controversies.

The Jalan Kalrock Consortium, consisting of Murari Jalan and Abu Dhabi-based business tycoon Kalrock Capital, was declared the winning bidder for Jet Airways in October 2020. However, the consortium has been facing many challenges with the airline’s lenders and employees demanding a higher stake in the new entity.

The consortium has now written to the airline’s monitoring committee’s authorized representative, Ashish Chhawcharia, asking him not to issue any communication on behalf of the grounded carrier without the approval of all the members of the committee. This is being seen as a move by the consortium to ensure that the bidding process is completed with full transparency and that all the stakeholders involved are treated fairly.

The letter sent by Jalan Kalrock Consortium also said that the monitoring committee should take all steps to ensure that the rights of all the stakeholders are protected and also asked the committee to maintain a level playing field for all bidders.

It remains to be seen whether the consortium’s move to ask the airline’s monitoring committee to not issue any communication on behalf of the grounded carrier without the approval of all the members of the committee will help speed up the revival process.