Jet Airways Gets Further Cash Infusion, Aims for 2024 Launch

Jet Airways Gets Further Cash Infusion, Aims for 2024 Launch
Anna Zvereva from Tallinn, Estonia, CC BY-SA 2.0 , via Wikimedia Commons

Before the weekend hit, Jet Airways revealed that they have received a further cash infusion as they aim for a 2024 launch.

The carrier has been struggling to get back on its feet again, but with this latest investment, it should make the process easier for them.

Without further ado, let’s get into it…

Jet Airways Gets Further Cash Infusion, Aims for 2024 Launch…

Jet Airways Gets Further Cash Infusion, Aims for 2024 Launch
Timothy Dauber, CC BY-SA 2.0, via Wikimedia Commons

The full statement from Jet Airways reads:

“Jalan Kalrock Consortium (JKC), the new proposed promoters of Jet Airways, today completed an additional infusion of 100 crores INR, reaffirming its unwavering commitment to a successful resurgence of Jet Airways”.

“With this infusion, JKC has not fulfilled its total financial commitment of INR 350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline”.

“The consortium’s strategy to revive the airline remains unaltered.”

“The new promoters are determined to re-establish the operations of the airline up and running in 2024. Further announcements regarding the launch date of Jet Airways will now be made in the coming weeks”.

Looking ahead, all eyes will now be on the JKC to see what sort of announcements will be made regarding the revival of the Indian carrier, which first launched in 1993.

Many are questioning its viability against the likes of IndiGo, who have occupied a lot of market share since their demise, as well as against the likes of Air India, of which TATA are in the process of rejuvenating the carrier.

It will be interesting to see what happens, that’s for sure.

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