Sanjiv Kapoor, the CEO-designate of Jet Airlines, said on Monday that the company would be distinct and distinctive and that the new management does not want to be “in a haste” to resume operations. Due to disagreements between the winning bidder and lenders, the ownership transfer of the airline under the bankruptcy resolution plan is experiencing difficulties.
We don’t want to be hurried, remarked Kapoor. He said that it is a marathon, not a sprint, when speaking at the CAPA aviation conference in the nation’s capital. The restoration plan proposed by the partnership between Dubai-based Murari Lal Jalan and the UK’s Kalrock Capital was accepted by the airline’s Committee of Creditors (CoC) in October 2020. The consortium’s proposal was accepted in accordance with the bankruptcy resolution procedure in June 2021. Yet the plan’s execution is taking longer and longer. Jet Airways, a once-famous airline, ceased operations in April 2019.
