In 2019, one of the most-loved Indian carrier, Jet Airways, was grounded in April. Since then, it was entered into the insolvency court where Grant Thorton India was handed the charge of finding new buyers for the defunct carrier and sell it off so that some of the money owed to creditors could be reimbursed.

After many false starts and four rounds of calling for bids, finally, there are a couple of bidders which have filed bids to buy Jet Airways on July 21, 2020. Apparently, there were four in the consideration set, but two backed off and did not submit a bid eventually. The two consortia which have presented proposals include,

1. Flight Simulation Technique Centre Pvt Ltd. and Big Charter Pvt Ltd., both owned by a pilot, Captain Sanjay Mandavia and Imperial Capital Investments LLC of Dubai. An aviation expert with over 20 years of experience. Captain Sanjay Mandavia is a Senior Commander on Airbus A330 with over 11,000 hours of commercial flying. He was also a DGCA approved Check Pilot on the Airbus 330 for Kingfisher and has also previously worked with Jet Airways. Capt. Sanjay had also announced plans to launch a regional carrier called Fly Big earlier this year, which has not been formally launched yet.
2. The second consortium consists of London-based Kalrock Capital and an entrepreneur Murari Lal Jalan.

Bottomline

Many people on Social Media got excited with this news. But I’d say, don’t get your hopes too high just yet. Let there be a transaction first. After that, the AOP of Jet Airways (the permit to operate an airline) needs to be resurrected, and they need to get planes and pilots and people before they can even think of starting operations again. They will also need all their slots back which were farmed out to other carriers in India.

What do you think will happen with Jet Airways bids this time around?

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