The National Company Law Appellate Tribunal (NCLAT) has granted an extension to Jet Airways’ committee of creditors (CoC) to make a payment of 350 crore rupees. The CoC, led by Jalan Kalrock Consortium (JKC), now has time till September 30 to meet the payment deadline. This extension comes as a relief for JKC, which is currently working towards the revival of the grounded airline. The consortium had sought additional time to arrange for the funds required for the payment. Jet Airways had been facing financial troubles for a long time and was eventually grounded in April 2019. The airline’s revival plan includes liquidating its assets and restructuring its debt. It is also seeking new investors as part of the revival process. JKC had won the bid for Jet Airways in October 2020 and is focused on reviving the airline’s operations. The extension granted by NCLAT gives JKC more time to secure the necessary funds and move forward in the revival process.