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Jet Airways in talks with Boeing, Airbus for 100 aircraft worth $12 billion: Report

The new owners of Jet Airways – United Arab Emirates-based businessman Murari Lal Jalan and United Kingdom-based investment firm Kalrock Capital have told that the airline is planning to buy at least 100 narrow-body aircraft.

December 03, 2021 / 11:55 AM IST
Representative image

Representative image

Indian origin international airline Jet Airways is reportedly in talks with airplane makers Boeing Co and Airbus SE to place an order worth $12 billion, Reuters reported on December 2, citing Bloomberg News.

The new owners of the airlines – United Arab Emirates-based businessman Murari Lal Jalan and United Kingdom-based investment firm Kalrock Capital have told that Jet is planning to buy at least 100 narrow-body aircraft.

However, Jet Airways clarified to the stock exchanges on December 3 that while discussions are ongoing with Boeing and Airbus regarding the acquisition and leasing of aircraft, "no fixed value can be determined as on date".

"Financials mentioned in the news piece are purely based on speculative calculations for over 100 aircraft purchased as per industry standards. Details around negotiations with the OEM or events related to these negotiations have not been shared with the media house as indicated in the media reports," the company said.

The Jalan-Kalrock consortium is set to invest about $200 million through equity and debt in Jet Airways over the next six months.

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The group’s resolution plan for Jet was approved by the National Company Law Tribunal (NCLT) on June 22. The airline is aiming to restart domestic operations by the first quarter of 2022.

The debt-laden airline, which used to be India’s biggest private carrier, ran out of cash two years ago and stopped taking off since April 2019. As a result, thousands of the airline's employees were left jobless.

The news comes a month after Akasa Air, the budget domestic carrier backed by billionaire investor Rakesh Jhunjhunwala, placed a $9 billion order for 72 Boeing 737 MAX jets.

 
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first published: Dec 2, 2021 03:07 pm
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