Aviation

JET AIRWAYS IS COMING BACK as Creditors back plan to get India’s Jet Airways flying again

According to the Money control website The Kalrock Capital-Murari Jalan consortium winning the bid for Jet Airways as part of the resolution plan is just the beginning of many steps that are needed for the airline to re-start flying! While the news created buzz that this would be a second lease of life for the airline which suspended operations in April 2019, the road remains as tough as it has ever been…

The real question for the airline to get back will be money, planes and slots! With a debt of over Rs 8,000 crore – the first ask would be to restructure the debt and ensure that it is sustainable. Times have changed and even a cash-rich airline like IndiGo has resorted to sale and leaseback along with plans to raise money. Recovery is a few years away and while the 120 plus-aircraft airline couldn’t earn enough to service its debt obligations in the hay days, the going will be much tougher with a smaller fleet and challenging market condition.

Ashish Chhawchharia (Resolution Professional for Jet Airways) has given Notice to the Employees & Workmen of Jet Airways (India) Limited that

I am writing to communicate to you on the status of the corporate insolvency resolution
process (“CIRP”) of your beloved company- Jet Airways (India) Limited.
When I last communicated with you, the two (2) Resolution Plans were submitted for the
CoC members’ consideration on October 03, 2020 and following the provisions of the
Insolvency and Bankruptcy Code, 2016 (“IBC”), these Resolution Plans were put for
voting by the CoC members.
The voting lines closed on October 17, 2020 at 01.00 pm and the Resolution Plan
submitted by the Consortium of Mr. Murari Lal Jalan and Mr. Florian Fritsch (“JalanKalrock plan”) has been duly approved by the CoC under section 30(4) of the Code as
the successful resolution plan.
As next step, I will be filing an application in accordance with section 30(6) of the Code
for approval of the Jalan-Kalrock plan by the Hon’ble NCLT after some necessary
formalities are completed. As and when the resolution plan is approved by the NCLT, the
process of the implementation of the plan shall be initiated by the successful applicant.
We are now one important step closer to a successful resolution and to make Jet Airways
fly again!
I shall keep you posted on the progress.

Approval Notices Click here

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Aviation

COMAC Unveils Plans for the C929 to Rival Airbus and Boeing

After the success of China’s first C919 aircraft, the country is setting its sights on developing a larger plane. COMAC (Commercial Aircraft Corporation of China) has officially confirmed plans to build a widebody aircraft, marking a significant step in its aircraft lineup.

Traditionally, Airbus and Boeing dominate the widebody aircraft market, with decades of expertise in developing planes and engines capable of carrying heavy payloads. China, which currently relies on imported engines, is now aiming to challenge these giants with its own widebody jet, the C929, designed to compete with the Airbus A350 and Boeing 777.

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The C929 will be China’s first independently developed long-range widebody aircraft. It adheres to international airworthiness standards and boasts independent intellectual property rights. The baseline version is designed to seat 280 passengers and offers a range of 12,000 kilometers, catering to global demand for both regional and international air travel.

Russia, which also needs reliable narrowbody and widebody aircraft, could become a key customer for the C929. Additionally, China plans to target the broader Asian market as it continues to expand its aviation capabilities.

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China’s aviation progress includes the ARJ21 (now called C909), a regional jet with 100 seats for shorter routes, and the C919, a narrowbody jet with 180 seats designed to rival the Boeing 737 MAX and Airbus A320. Both models have found increasing demand in the domestic market.

At China’s largest air show in Zhuhai, COMAC announced that Air China will be the launch customer for the C929 widebody jet, though details about order size and delivery timelines were not disclosed.

Other major deals announced by COMAC include:

Hainan Airlines: Firm orders for 60 C919 and 40 C909 regional jets.
Colorful Guizhou Airlines: 30 C909 jets, with 20 firm orders and 10 provisional agreements.

The C929, renamed from the CR929 after Russia withdrew from the joint development project in 2023, is expected to carry 280–400 passengers with a range of 12,000 kilometers, competing directly with Boeing’s 787 Dreamliner.

According to COMAC’s deputy general manager, Tong Yu, the first fuselage section of the C929 is expected by September 2027, with prototype test flights anticipated soon after.