Mumbai, September 13: Jet Airways is set to resume domestic operations in the first quarter of 2022, i.e. in Q1 2022. The news was confirmed by the Jalan Kalrock Consortium, the successful resolution applicant of the carrier. The Jalan Kalrock Consortium, the winning bidder for Jet Airways, expects to restart operations of the defunct airline soon after receiving approval from the NCLT for its resolution plan. Reports inform that the first flight of Jet Airways would be on the Delhi-Mumbai route, it mentioned, adding that the airline would now be headquartered in Delhi instead of Mumbai.
In a statement, Murari Lal Jalan, Lead Member of the Jalan Kalrock Consortium, said, “Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short-haul international operations by Q3/Q4 2022.” Jalan further said that the plan is to have more than 50 aircraft in three years and over 100 in five years, adding that the aircraft are being selected based on competitive long-term leasing solutions. Jet Airways to Make a Comeback? Karlock Capital-Murari Jalan’s Resolution Plan Approved by Committee of Creditors.
Jet Airways was grounded in April 2019. It is now set to resume operations after nearly three years. “The process of reviving the grounded carrier is on track with the existing Air Operator Certificate (AOC) already under process for revalidation. The Consortium is working closely with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking,” the consortium said in a statement.
Jet Airways has been undergoing a resolution process under the Insolvency and Bankruptcy Code (IBC) for two years, and its affairs are being managed by a resolution professional. In October last year, the consortium comprising UK-headquartered Kalrock Capital and Jalan, a UAE-based entrepreneur, emerged as the winning bidder for Jet Airways, which has not flown since April 17, 2019.
(The above story first appeared on Fresh Headline on Sep 13, 2021 12:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website freshheadline.com).