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New life to Jet Airways, CoC approves resolution plan

Oct 18, 2020 09:49 IST

Jet Airways' committee of creditors on Saturday approved a resolution plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan. The domestic airline was forced to ground all flights in April 2019, crippled by mounting losses as it attempted to compete with low-cost rivals. The airline's financial and operational creditors were owed nearly ₹30,000 crore after the operations were halted.

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