07.02.2023 - 02:45 UTC
Vistara (UK, Delhi International) took delivery of its first A321-200NX(LR) on February 4, 2023, becoming the first operator of the type in India.
VT-TVG (msn 11138) was delivered directly from Hamburg Finkenwerder to Delhi International and joins the carrier's existing fleet of five A321-200NX and forty-two A320-200Ns. Vistara also operates three B787-9s and three B737-800s, taken over from Jet Airways (9W, Mumbai International) after its grounding as an interim solution and due to be retired as more A320neo Family jets arrive.
The full-service carrier, a joint venture of Tata Sons and Singapore Airlines Group, recently said it would not place any orders pending the completion of its proposed merger with Air India (AI, Mumbai International), also owned by Tata Sons. However, it plans to honour its existing commitments, which will see its fleet grow to 70 aircraft by mid-2024. The airline's existing order book comprises a further four B787-9s and nine A320neo on firm order from the manufacturers, alongside additional A320neo...
01.02.2023 - 00:49 UTC
India's Supreme Court has denied an appeal by the would-be new owners of Jet Airways (9W, Mumbai International) concerning the payment of INR2.5 billion rupees (USD30.6 million) to former employees, leading to further doubt about the airline's relaunch.
Led by Chief Justice D.Y. Chandrachud, on January 30, 2023, the three-judge bench, that also included Justices P S Narasimha and J B Pardiwala, rejected the appeal brought by the Kalrock Capital-Murari Lal Jalan consortium (JKC) that sought to overturn an October 2022 National Company Law Appellate Tribunal (NCLAT) order that directed it to pay the provident (pension) fund and gratuity dues (an annual bonus based on years of service) owed to former employees.
“Anyone stepping in would know that there are overriding labour dues. Unpaid labour dues always take precedence. Somewhere, there has to be finality. Sorry, we will not interfere,” the Supreme Court ruling read.
Under the terms of the 2021 National Company Law Tribunal (NCLT) approved resolution plan, JKC could take control of the grounded airline in exchange for total capped payments of...
26.01.2023 - 04:26 UTC
The founder of Jet Airways (9W, Mumbai International) and his wife have won a restraining order against India's Directorate of Enforcement (ED) which prevents that agency taking any investigative action against the couple until the end of the month.
Naresh and Anita Goyal won the order on January 17 in relation criminal case filed against them over alleged money laundering and foreign exchange offences while operating the first iteration of Jet Airways.
Counsels Ravi Kadam and Aabad Ponda, who represent the Goyals, are attempting to have the investigation dismissed after Mumbai police, who investigated the source complaint which came from a travel agency and charged the pair, later closed the case. However, the ED is attempting to pursue the matter.
Now trying to relaunch under new ownership, Jet Airways ceased operations in April 2019 after accruing debts of more than USD1.2 billion and failing to secure last minute emergency funding to keep flying. In February 2020, Mumbai police lodged a First Information Report (FIR) against the Goyals, charging them with conspiracy, forgery, and cheating...
24.01.2023 - 02:46 UTC
The Kalrock Capital-Murari Lal Jalan consortium (JKC), who are attempting to take over Jet Airways (9W, Mumbai International), went back to court last week in another attempt to resolve a further hurdle preventing it from finalising the takeover process.
JKC went to India's Supreme Court on January 19, 2023, to ask it to overturn a National Company Law Appellate Tribunal (NCLAT) decision requiring it to pay INR2.5 billion rupees (USD30.9 million dollars) in provident fund and gratuity dues owed to former Jet Airways employees.
As reported in India's Economic Times, Avinash B Amarnath, appearing for Jet Airways, told the Supreme Court that the October 2022 NCLAT decision was outside the scope of the original June 2021 NCLT-approved resolution plan that would see ownership transfer to the consortium in exchange for certain payments being made on a fixed timeline. In the June 2021 settlement, it was agreed JKC would pay INR4.75 billion (USD58.7 million) towards Jet Airway's liabilities, with INR520 million (USD6.42 million) to be directed towards settling liabilities owed to former employees.
As the...
