The winners of the bid, the consortium of UAE-based businessman Murari Lal Jalan and London’s Kalrock Capital, claimed that they expect to get the company’s flights up and running by the summer next year. The brand of Jet Airways will be retained.
A statement released said, “As per the resolution plan, Jet Airways intends to operate all of its historic domestic slots in India and restart international operations. If everything goes as per plan and the Consortium received the NCLT and regulatory approvals on time, Jet Airways would be back in the skies by the summer of 2021.”
Recently, the stock had hit a high of Rs 79.10 and the 10-day simple moving average has exceeded the 20-day simple moving average five days ago.