Jet Airways coming back ?? || chiseled info

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JET AIRWAYS COMING BACK ??

The consortium of Flights Simulation Techniques Center Pvt Ltd ,Big Charter Pvt Ltd and Imperial Capital investment LLC, have secured an initial funding of $100 million that will be used to revive Jet Airways.

"We have secured a funding of $100 million through our partners , to start with ," Biraja Jena , chairman of imperial capital , told . The Dubai based investment banking and wealth management company has also brought on taha Group - a middle East based business house, as an investor , in the consortium. The consortium in one of the two suitors who have placed bids of the airline that had suspended it's operations in April 19.

The second consortium consist of London - based financial services firm Kalrock Capital and entrepreneur Murari Lal Jalan. The two bidders had submitted their plans on jully 21 . It's further learnt that private equity Major xponentia , co-founder by industry veteran Ajay Relan , has also marked an investment of RS 100 Cr  into jet Airways . Relan siis on the board of Flight Simulation Techniques Center Pvt Ltd (FSTC) ,which was co-founded by two former pilots -- Sanjay Mandavia and DS Basraon.

The development come even as the Jet Airways insolvency process entres a crucial phase . Source indicates that the airline banks , led by STATE BANK OF INDIA, may meet over the weekend on theto discuss the two bids."There could be decision on the winning bid by early next week ," said a senior executive from the industry .

TWO PLAN'S -----
The FSTC - Imperial Capital conortium has proposed to restart Jet Airways with in to 10 Aircraft. These will be used to cater to routes between metros in the country . 
"As Prime minister Narendra Modi had pointed out recently , the Indian aviation sector , despite the COVID-19 disruption , is best positioned to grow . At Jet Airways , the plan is to honour the airlines order book with Boeing . We will negotiate with the airline manufacturers," said source close to the consortium . MODI, while recently addressing a summit organized by the US - INDIA Business Council , had talked about private airlines planning to add more than a thousand aircraft in their fleet over the next decade . On the other hand , Kalrock Capital-led consortium plans to restart Jet Airways operations with over 20 aircraft . It's plans to fly both , on domestic and international routes.

The airline , before it got grounded , had an extensive operation , including to domestic and international destinations. It was only private airline from the country to fly long haul destinations in Europe and North America.


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