Debt

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Regional airline Zoom Air dragged to NCLT

Business Line  

Regional airline Zoom Air's parent company Zexus Air Pvt Ltd has been dragged to the insolvency court National Company Law Tribunal (NCLT) for unpaid dues. An expatriate pilot associated with the company had filed an application in the insolvency court as an operational creditor. The matter was admitted by the NCLT on March 25. All operational and financial creditors have been asked to submit their claims before April 08. The court has set September 21, 2022, i.e. 180 days from the date of commencement of the insolvency proceedings to complete the insolvency process. Zoom Air was started in February 2017. At the peak of its time, the airline operated on 12 routes.