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Jet Airways is planning to start operations within 6 months of approval from NCLT June 22 2021Jet Airways, the Kalrock-Jalan consortium

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Jet Airways is planning to start operations within 6 months of approval from NCLT

Jet Airways intends to begin operations within six months of receiving National Company Law Tribunal’s (NCLT) approval.

The airline's new owners, the Kalrock-Jalan consortium, is in talks with the government over the availability of slots. On a plus/minus 15 basis, the carrier is open to alternate slots. Jet Airways is also in talks with Airbus and Boeing about expanding its fleet as part of a five-year plan.

All 11 aircraft in the carrier's current fleet will be replaced and new fuel-efficient aircraft will be leased. The company is expected to hire around 50-75 people per aircraft.

Slots will be allocated based on the current norms and not historicity.

Jet Airways slots were given to other airlines after it stopped operations in April 2019. The Ministry of Civil Aviation (MCA) and the Directorate General of Civil Aviation (DGCA) have stated in a recent affidavit filed with the bankruptcy court that Jet Airways cannot claim historicity to regain the slots. The government and the aviation regulator have stated that slots will be allocated in accordance with current guidelines.

Jet Airways, the formerly full-service carrier, was grounded in early 2019 and is currently undergoing Insolvency and Bankruptcy Code proceedings (IBC).

In light of the fact that the National Company Law Tribunal (NCLT) is expected to make a final decision on the airline's resolution plan, Murari Lala Jalan, the winning consortium's lead member stated, ‘everything is on track’ as far as the carrier's revival attempts are concerned.

Last October, a consortium led by UK-based Kalrock Capital and UAE-based entrepreneur Jalan emerged as the winning bidder for Jet Airways, which has not flown since April 17, 2019.

According to Jalan, the airline is expected to begin operation with approximately 25 planes this year, as per the revival plan filed to the Committee of Creditors (CoC).

The aviation sector had to suffer due to the pandemic miserably but it is likely to be back to normal in the next 4-6 months. 

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