Pilotcenter.net News: The story of Jet Airways, once a prominent Indian airline, has taken a definitive turn with the recent Supreme Court ruling in India, ordering its liquidation. This decision, led by Chief Justice D.Y. Chandrachud along with a three-judge panel on November 7, 2024, effectively ends any hopes of the airline's revival.

The journey of Jet Airways towards liquidation has been a tumultuous one, with the National Company Law Appellate Tribunal (NCLAT) approving the ownership transfer to the Jalan-Kalrock Consortium (JKC) back in March 2024. The consortium had plans to restart the airline's operations in 2024, but the Supreme Court highlighted significant lapses in meeting financial obligations.

Among the key issues cited was the failure of JKC to pay Rs150 crore, out of the Rs350 crore required to settle airport debts and other essential expenses for workers. Additionally, challenges in obtaining necessary certifications like the air operator’s certificate further hindered the consortium's revival plans.

Pressure from lenders, including the State Bank of India (SBI), and assertions from senior lawyer Harish Salve advocating for the airline's closure added to the complexity of the situation. Conversely, JKC defended its efforts, stating an investment of over Rs700 crore to revive Jet Airways. However, the court found these justifications insufficient, leading to the definitive liquidation ruling.

The airline, which ceased operations in 2019, has faced multiple attempts at revival, with ownership previously transferred to a group led by UK-based Kalrock Capital and UAE businessman Murari Jalan in 2023. Despite these efforts, the challenges faced by Jet Airways have culminated in the recent court ruling, marking the end of an era for the once-leading private carrier in India.