Claims against beleaguered Jet Airways increase to Rs 36,090 crore

By: |
Mumbai | November 15, 2019 2:27 AM

Jet Airways was admitted for insolvency on June 20 and the 180-day deadline for completing the corporate insolvency resolution process (CIRP) will end on December 16.

Aircraft lessors have filed claims worth Rs. 14,128.79 crore, of which only Rs. 1,572.97 crore has been admitted so far.

The total claims against beleaguered Jet Airways stood at Rs. 36,090.9 crore as on October 20. Of this, the resolution professional for Jet, Ashish Chhawccharia, has so far admitted claims worth Rs. 14,640.32 crore, according to the latest data available on the airline’s website. Claims worth over Rs. 17,003 crore have been rejected.

Jet Airways was admitted for insolvency on June 20 and the 180-day deadline for completing the corporate insolvency resolution process (CIRP) will end on December 16.

Claims by financial creditors against Jet Airways stood at Rs. 10,223.93 crore as on October 20, of which the RP has admitted claims worth over Rs. 8,231 crore. Of these, State Bank of India has filed the largest amount of claims worth Rs. 1,664.21 crore. Among foreign banks, HSBC Bank Middle East filed the largest claim worth Rs. 1,005.23 crore.

Aircraft lessors have filed claims worth Rs. 14,128.79 crore, of which only Rs. 1,572.97 crore has been admitted so far.

The airline has been grounded for nearly seven months now. Most of the slots allotted to the airline have since been re-allocated to other airlines. The National Company Law Tribunal will hear matters related to Jet Airways on November 18.

Colombian Synergy Group was the only party to show any interest in Jet Airways. The group met government officials and bankers in September and was given time till November 15 to present a business plan. Earlier this month, FE had reported Synergy Group was not finding an Indian partner to put in a bid for the grounded airline.

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