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India’s Jet Airways in talks with Boeing, Airbus for $12 billion order

by Mike Robinson

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© Reuters. Jet Airways planes can be seen at Mumbai’s Chhatrapati Shivaji Maharaj International Airport, India on April 18, 2019. REUTERS/Francis Mascarenhas/File Photo

BENGALURU: (Reuters) – India’s Jet Airways is currently in negotiations with Boeing (NYSE.) Co and Airbus SE, according to BloombergQuint. The order will be valued at $12 billion.

Murari Lal Jalan (a UAE businessman) and Kalrock Capital (a UK investment company), are the airline’s new owners. BloombergQuint stated on Twitter (NYSE:

BloombergQuint reported that the group will invest approximately $200 million in Jet equity and debt over the next six-months.

Reuters reached Jet, Boeing, and Airbus but they did not respond immediately to our requests for comment.

India’s bankruptcy judge approved in June the resolution plan of Jet by Jalan-Kalrock. Jet is expected to take off by the end of the first quarter, 2022, as the consortium prepares to restart domestic operations.

After running out of money, the debt-laden airline that was once India’s largest private carrier stopped flying on April 2019, leaving thousands without work.

The airline’s shares rose as high as 3.7%, to 85 rupees, on Thursday. They were 2.4% higher as of 07:40 GMT.

Jet news is coming a month after Akasa, a low cost Indian carrier that Rakesh Jhunwala has backed placed a $9Billion order for 72 Boeing 737 MAX planes.

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