New Delhi: Grounded airline Jet Airways, whose revival plan was approved by the National Company Law Tribunal (NCLT) on June 22, could shake up India's airline market if it succeeds in resuming flights, said aviation consultancy and research firm CAPA on Tuesday.
"If Jet succeeds in resuming flights, its market re-entry will be one of the potentially significant development that could shake up India's airline market. Consolidation, ownership reshuffles and market share expansion by some players are all on the cards for the post-pandemic industry landscape," CAPA said in the report.
Read:| No intention of raising funds for Jet Airways, says Aviation Minister
On June 22, the NCLT cleared Jalan Kalrock Consortium's resolution plan for the bankrupt Jet airways under the insolvency law. The Mumbai bench of the tribunal directed the consortium to get the required approval and licences to restart the airline within 90 days. The consortium purposes to invest Rs 600 crore in the first two years to repay creditors and acquire an 89.79 per cent stake in the carrier.
