Jet Airways is in talks with Boeing, Airbus for $12 billion order

Mumbai -India’s Jet Airways is in talks with plane makers Boeing Co and Airbus SE for an order worth $12 billion. The airline is targeting to resume operations from the first quarter of 2022. Reportedly, Jet Airways can at least purchase 100 narrowbody aircraft.

The airline’s new owners, UAE-based businessman Murari Lal Jalan and UK investment firm Kalrock Capital talked about purchasing those aircraft. Reportedly, the airline is now left with a fleet of 11 planes that include Boeing 777 and 737s and Airbus A330, which need to be sold and replaced with more fuel-efficient aircraft. According to BloombergQuint, the Jalan-Kalrock group is set to invest about $200 million through equity and debt in Jet over the next six months

As per the report by The Telegraph, the winning bidder for Jet Airways had said that they would start with domestic flights and then fly overseas by the last quarter of the year. The Jalan-Kalrock resolution plan for Jet Airways was approved by India’s bankruptcy court in June because the airline was grounded in April 2019.

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Jet Airways went into insolvency as it could not repay its rising debt. Now the airline will take off by the first quarter of 2022. The ongoing discussions for Jet Airways are part of the grounded airline’s revival plan approved by the Mumbai bench of the National Company Law Tribunal, the airline said in a regulatory filing on December 3.

The news about Jet Airways comes after a month billionaire investor Rakesh Jhunjhunwala-backed low-cost Indian carrier Akasa Air signed a deal with Boeing for 72 fuel-efficient 737 MAX airplanes. Boeing is an American multinational corporation that manufactures and sells aircraft. Earlier, Jhunjhunwala also tried to team up with Jet Airways to tap into demand for domestic air travel.