Kalrock Partners Ltd, part of the Jalan-Kalrock consortium that owns Jet Airways, on Monday said investigations launched by regulatory agencies in Liechtenstein, Switzerland and Austria against its promoter Florian Fritsch will have no impact on the deal between Kalrock and Jet Airways. jet airways,
calrock Partners said that Fritsch is assisting in the investigation and has “confirmed” that neither CalRock Capital Partners nor Jet Airways has any connection with these ongoing investigations, or the allegations made thereunder.
In June 2021, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the resolution plan submitted by CalRock Capital and UAE-based entrepreneur Murarilal Jalan for the revival of Jet Airways (India) Ltd, which got grounded from April 2019 Was.
“The investigation, which is ongoing, has been launched on the basis of anonymous complaints filed in relation to certain businesses where Florian is one of the financial investors in his personal capacity. The disputes are of commercial nature. Florian has already filed a complaint with the concerned High Court regarding these disputes and grievances, which is also being investigated.”
The planned re-launch of Jet Airways has faced several delays, with the airline yet to announce a date for resuming flight operations.
Jet Airways emerged from bankruptcy proceedings with a change in ownership and plans to start services during the September quarter after receiving an air operator certificate from the Directorate General of Civil Aviation on May 20. However, clarity on the aircraft pipeline is still awaited, and an announcement on the same is awaited.
An analyst said the industry is looking forward to restarting Jet Airways, but the airline may face several challenges with lenders as these probes do not bode well for the upcoming airline.
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