NEW DELHI: Jet Airways is all set to become the first Indian carrier to revive operations under India’s bankruptcy law September this year.
The Directorate General of Civil Aviation (DGCA) on Friday granted the airline operating permit (AOP, or licence) to Jet 2.0 under its new promoters, the Jalan-Kalrock consortium, and a new management team.
The airline had suspended flights in April 2019 and is now looking at resuming scheduled commercial flights in the coming months.
The winning consortia says it plans to “recommence commercial operations in the next quarter of this year (July-September 2022). Aircraft and fleet plan, network, product and customer value proposition, loyalty program, and other details will be unveiled in a phased manner over the coming week.”
The grant of AOP, the consortium says, fulfills “all the conditions precedent under their NCLT approved Resolution Plan.”
On May 15 and 17, the airline had successfully conducted 2 proving flights with key DGCA officials on board.
Murari Lal Jalan, lead member of Jalan-Kalrock Consortium, said: “Today marks a new dawn for not just Jet Airways, but also for the Indian aviation industry. We are now at the brink of creating history by bringing India’s most-loved airline back to the skies. We will not only live up to the great expectations from brand Jet Airways, but also exceed them in many ways for today’s discerning flyers. We are committed to making this an extraordinary success story in Indian aviation and in Indian business. We are grateful to the NCLT, the ministry of civil aviation, and to the DGCA for supporting us at every step of our efforts to revive the airline.”
Jet CEO Sanjiv Kapoor said: “We are grateful to have received the revalidated AOC, the culmination of months of effort by a fantastic and dedicated team that never wavered in its faith and belief that Jet Airways would fly again, backed by the Jalan-Kalrock Consortium, by the Resolution Professional, and by committee of creditors who were equally determined to see Jet fly again….We will combine the best of what Jet Airways was known for 25 years, with exciting new ideas to set the bar even higher.”
The statement added that additional senior management appointments will be unveiled next week, and hiring for operational roles will also now commence in earnest, with former Jet Airways staff getting preference.