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Don’t delay decision on reviving Jet Airways, NCLT tells Synergy Group

The National Company Law Tribunal (NCLT) has asked Synergy Group to hasten its decision on reviving Jet Airways. The South American group had failed to provide a resolution plan before December 16 deadline due to uncertainty on airport slots and would have to participate in a fresh bidding process proposed by lenders. Michael Welch, Synergy’s executive president, informed the NCLT’s Mumbai Bench that the group was keen to revive the airline by forming a new company upon takeover with all Jet’s assets, aircraft, employees and it operating permit but all liabilities.” Undoubtedly it will be challenging but we see an opportunity,” Welch said.

Source: Business Standard