India’s Jet Airways in talks with Boeing and Airbus to buy 100 aircraft for $12bn – The National

India’s Jet Airways in talks with Boeing and Airbus to buy 100 aircraft for $12bn – The National

The new owners of once-bankrupt Jet Airways are in talks with Boeing and Airbus to purchase at least 100 narrow-body jets in a bid to revive what used to be the biggest private airline in the nation before it collapsed under a pile of debt.

The winning bidders for Jet Airways in a state-run bankruptcy resolution process – Indian businessman Murari Lal Jalan. based in Dubai, and Florian Fritsch, chairman of London financial advisory and alternative asset manager Kalrock Capital Management – plan to start flights in the first three months of next year, said Ankit Jalan, a representative for the consortium.

The group will invest about 15 billion rupees ($200 million) through equity and debt in the airline over the next six months, half-a-year earlier than originally planned, Mr Jalan, who is Murari Lal’s nephew, said earlier this week.