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Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier <keyword id="6358200" type="General" weightage="20" keywordseo="Jet-Airways" source="Orion">Jet Airways</keyword>, on Friday said it has infused an additional Rs 100 crore in the airline as per the court-approved resolution plan. With this, the consortium has "fulfilled" its total financial commitment of Rs 350 crore to revive the airline, which would pave the way for it to take over the ownership of Jey Airways, JKC (Jalan Kalrock Consortium) said in a statement. JKC also said it is expecting the airline to be up and running next year with the launch date likely to be announced in the next few days. Jet Airways has not flown since April 17, 2019. "Kalrock Consortium (JKC) today completed an additional infusion of 100 crore, reaffirming its unwavering commitment to a successful resurgence of Jet Airways," the consortium said in the statement. "With this infusion, JKC has now fulfilled its total financial commitment of Rs 350 crore equity as per the court-approved resolution plan, and all commitments by JKC now stand fulfilled to take control of the iconic airline," it added. It also said that the consortium's strategy to revive the airline remains unaltered. "The new promoters are determined to re-establish the operations of the airline up and running in 2024," it said and added that further announcements regarding the launch date of Jet Airways will now be made in the coming weeks.

Jet Airways hits upper circuit after Jalan Kalrock Consortium infuses Rs 100 cr more

Go First is not the first airline to fly into turbulent times in India

Mumbai, A special PMLA court here on Thursday remanded <keyword id="6358200" type="General" weightage="50" keywordseo="jet-airways" source="Orion">Jet Airways</keyword> founder <keyword id="122732" type="General" weightage="50" keywordseo="naresh-goyal" source="Orion">Naresh Goyal</keyword> in 14-day judicial custody in a money laundering case linked to an alleged fraud of Rs 538 crore at the Canara Bank. The court accepted <keyword id="6361408" type="General" weightage="100" keywordseo="goyal" source="Orion">Goyal</keyword>'s request to send him to the Arthur Road jail in South Mumbai. The <keyword id="6357808" type="General" weightage="50" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) arrested Goyal on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here. The 74-year-old businessman was produced before the special judge for cases under PMLA, MG Deshspande, at the end of his ED remand on Thursday. The court remanded him in judicial custody as no further remand was sought by the probe agency. The court also accepted Goyal's request to send him to the Arthur Road jail in Byculla instead of Taloja jail in Navi Mumbai. Later, Goyal moved an application saying he suffers from a host of health issues and requested that he be allowed to undergo daily medical checkups by his family physician, specialist consulting doctors and personal doctors, and be provided with medical facilities on a regular basis during his stay in the jail. In the application, Goyal said he was suffering from ischemic heart disease and was operated at the <keyword id="6425633" type="General" weightage="50" keywordseo="asian-heart-institute" source="Orion">Asian Heart Institute</keyword> for "treatment of 80 per cent of blockages in his left main artery which is a life threatening condition". His plea said he also has hypertension, diabetes, restricted mobility, severe shoulder impingement and neck pain due to a fall in June 2022. In another application, Goyal sought appropriate bedding on a daily basis considering his medical conditions and home-cooked food as per dietary prescription. The court has asked the prosecution to file its say on Goyal's applications. The money laundering case stems from an FIR of the <keyword id="6354889" type="General" weightage="50" keywordseo="central-bureau-of-investigation" source="Orion">Central Bureau of Investigation</keyword> (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives of the now-grounded private airline in connection with an alleged Rs 538-crore fraud case at the Canara Bank. The FIR was registered on the bank's complaint which alleged that it sanctioned credit and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore of which Rs 538.62 crore was outstanding.

Jet Airways founder Naresh Goyal sent to 14-day judicial custody

<ul class="summary-list"><li>Boeing won't bring commercial jets to the Farnborough Airshow, a first for 16 years.</li><li>It also didn't bring any airliners to February's Singapore Airshow.</li></ul><a target="_blank" href="https://www.businessinsider.com/boeings-candidates-for-ceo-keep-turning-it-down-wsj-2024-6">Boeing</a> isn't bringing any of its commercial jets to this year's Farnborough Airshow, the company confirmed to Business Insider.It's the first time for 16 years that it isn't displaying its airliners at the world's second-biggest air show. Farnborough alternates each year with Paris, the most-attended air show, meaning it's the primary aviation event for 2024. <a target="_blank" href="https://theaircurrent.com/feed/dispatches/boeing-during-farnborough-will-leave-737-max-and-777x-test-aircraft-at-home/">The Air Current first reported</a> on the news.The decision comes as Boeing deals with an ongoing crisis sparked by January's <a target="_blank" href="https://www.businessinsider.com/alaska-airlines-blowout-passenger-lost-shoes-and-socks-to-gaping-hole-2024-3">Alaska Airlines blowout</a>. CEO <a target="_blank" href="https://www.businessinsider.com/boeing-dave-calhoun-failed-to-turn-boeing-around-737-max-2024-3">Dave Calhoun announced he will resign</a> at the end of the year, and several <a target="_blank" href="https://www.businessinsider.com/lufthansa-ceo-calls-boeing-delivery-delays-extremely-annoying-2024-5">airline bosses have voiced their frustrations</a> with the firm.Boeing also didn't display any passenger jets at <a target="_blank" href="https://www.businessinsider.com/boeing-brings-no-passenger-jets-to-singapore-airshow-2024-2">February's Singapore Airshow</a>. However, the Farnborough decision is more noteworthy.It's a mainstay in the aviation world, where planemakers exhibit new aircraft and announce deals with airlines.At the time of publication, one Boeing airliner, the 787 Dreamliner, is set to be displayed at Farnborough. Rather than being sent by Boeing, however, this is courtesy of Qatar Airways, which is set to exhibit its <a target="_blank" href="https://www.businessinsider.com/qatar-new-qsuite-adding-first-class-to-boeing-777x-2024-3">upgraded QSuite business class</a>.Boeing is instead prioritizing work on a safety and quality plan as it works to regain the trust of regulators and customers following the Alaska Airlines 737 Max incident.In a statement sent to Business Insider, Boeing said: "Our Commercial Airplanes team has been focused on implementing our comprehensive safety and quality plan and working to meet the commitments we've made to our customers.""With these priorities in mind, we decided that rather than prepare and perform flight demonstrations this summer, we are redirecting the engineering and manufacturing resources toward airplane production and certification," it added."For more than a decade, we've brought our 787 Dreamliner, 777X and 737 Max airplanes to airshows around the world, including Farnborough, Paris, Dubai, India and Singapore. We look forward to doing the same in the future. Boeing will have a strong presence of defense, space, and security products — flying and on display."At last year's Paris Air Show, Boeing displayed its <a target="_blank" href="https://www.businessinsider.com/see-inside-boeing-737-max-10-testbed-compete-a321neo-2023-7">737 Max 10</a> — the longest version of its narrowbody jet — which is still awaiting certification. Approval has been further hampered by increased regulatory scrutiny following the blowout, when a Max 9 lost a door plug in midair.After the blowout, <a target="_blank" href="https://www.businessinsider.com/united-ceo-boeing-alternatives-due-to-delays-and-grounding-2024-1">Scott Kirby, the CEO of United Airlines</a>, Boeing's biggest customer, called the incident "the straw that broke the camel's back." He added that the airline would build an alternative plan without the Max 10 due to the delays.The <a target="_blank" href="https://www.businessinsider.com/see-inside-boeing-777x-test-aircraft-biggest-twin-engine-airliner-2023-8">777X</a>, an upgraded version of the widebody 777, was also on display in Paris. It was initially set to enter service in 2020, but this has been pushed back to 2025.

Boeing isn't bringing any of its signature jets to the year's biggest air show for the first time in over a decade

<ul><li>Shares of <keyword id="6358200" type="General" weightage="20" keywordseo="jet-airways" source="Orion">Jet Airways</keyword> (India) were locked in a 5% upper circuit at ₹90.30 on Friday on news that the airline is in talks with Boeing Co and Airbus SE for an order worth $12 billion.</li><li>The airline, which has been grounded since 2019, is expected to resume its operations in the first quarter of FY23.</li><li>The new owners Jalan-Kalrock consortium's resolution plan for Jet was approved by a bankruptcy court in June.</li></ul>Shares of Jet Airways (India) are in the spotlight as the stock is locked in a 5% upper circuit at ₹90.30, on December 3, on news that the airline is in talks with aircraft manufacturers Boeing Co and Airbus SE for an order worth $12 billion. BloombergQuint reported that new owners -- Murari Lal Jalan and Kalrock -- said it could buy at least 100 narrow-body aircraft. The group is set to invest about $200 million through equity and debt in Jet over the next six months, said the media firm in a tweet. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The airline has been through a lot of turbulence in the last couple of years and is now in the news for resuming its operations by adding new aircraft. Jet Airways went to bankruptcy court after being grounded in April 2019. Later in June 2021 new owners -- UK-based Kalrock Capital Partners and UAE-based businessman Murari Lal Jalan -- took over the defunct airline. Now the airline is expected to resume its domestic flights in the first quarter of the next financial year that starts from April 1, 2022. <div type="image" title="jet air" height="900" width="1200" msid="88067635" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/poor-demand-for-star-healths-ipo-forces-investment-bankers-to-cut-down-on-promoter-offerings/articleshow/88065207.cms">Poor demand for Star Health’s IPO forces investment bankers to cut down on promoter offerings; GMP at ₹10 discount</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/no-crypto-ban-in-india-sebi-will-reportedly-be-pulled-in-to-regulate-the-sector/articleshow/88065166.cms">No crypto ban in India — SEBI will reportedly be pulled in to regulate the sector</a>

Jet Airways stock flies on news that the airline is in talks to buy 100 aircraft ahead of its comeback

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Jet Airways hits upper circuit after Jalan Kalrock Consortium infuses Rs 100 cr more

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Go First is not the first airline to fly into turbulent times in India

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Jet Airways founder Naresh Goyal sent to 14-day judicial custody

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Boeing isn't bringing any of its signature jets to the year's biggest air show for the first time in over a decade

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Jet Airways stock flies on news that the airline is in talks to buy 100 aircraft ahead of its comeback

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