Jalan-Kalrock consortium to order 200 aircraft for Jet Airways: Report

Jet Airways’ successful resolution applicant, Jalan-Kalrock consortium, is reportedly planning to order 200 airplanes for the airline after National Company Law Appellate Tribunal (NCLAT) declined to halt the ownership transfer as requested by lenders. 

The order could be announced around June, reported Livemint, citing sources. The report added that the consortium is in talks with original equipment manufacturers (OEMs) to place the order of at least 200 planes, which will be a mix of small, medium, and large narrow body jets at the Paris airshow in June. 

The mix of planes the consortium is planning to order is keeping in mind the market opportunity in the country, which in itself is a blend of metro markets and smaller cities. 

The airline had previously indicated that it would place a large order from Boeing and Airbus but that could not proceed due to opposition from the lenders. 

The NCLAT refused to stay an order by the National Company Law Tribunal (NCLT) on January 13 that approved the transfer of ownership of bankrupt-Jet Airways to the Jalan Kalrock consortium and gave the winning bidder more time to pay the dues to the creditors. The NCLAT stated that lenders must move forward in implementing the resolution plan without delay. 

This development comes after Air India placed a massive order of 470 planes with Airbus and Boeing, comprising 40 Airbus A350s, 20 Boeing 787s and 10 Boeing 777-9s widebody aircraft, as well as 210 Airbus A320/321 Neos and 190 Boeing 737 MAX single-aisle aircraft.

Meanwhile, IndiGo is also in discussions with manufacturers for a 500 aircraft order, the report added. Akasa is also likely to place a “three-digit” order by 2023-end, as per media reports.

Also read: NCLT allows transfer of ownership of Jet Airways to Jalan-Kalrock consortium: Report