Kalrock says probes into investor Fritsch have no impact on Jet Airways deal

Asset manager Kalrock Capital Partners said on Monday that probes into its investor Florian Fritsch have no impact on its acquisition of Indian airline Jet Airways.

Fritsch is assisting in investigations by regulatory agencies in Liechtenstein, Switzerland, and Austria. The probes are based on anonymous complaints filed in relation to certain businesses where Fritsch is a financial investor in his personal capacity, UK-based Kalrock said in a statement.

Once India's biggest private carrier, Jet had stopped flying in April 2019 after running out of cash, before India's bankruptcy court last year approved a resolution plan submitted by a consortium of Kalrock and UAE-based businessman Murari Lal Jalan.

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"Florian confirms that neither Kalrock Capital Partners nor Jet Airways have any connection with these ongoing investigations, or the charges made thereunder, and these investigations have no impact on the acquisition of Jet Airways, and Jalan-Kalrock Consortium remains committed towards Jet Airways," Kalrock said, adding that the disputes are commercial in nature.

Meanwhile, business newspaper Economic Times reported on Monday that Jet Airways' asset monetisation plan has been delayed due to an impasse between lenders and the Jalan-Kalrock consortium over its resolution plan.

Jet Airways did not immediately respond to a Reuters request for comment.