Tuesday, December 17, 2019

DGCA to NCLT: Will positively consider concrete biz plan for Jet Airways

Mumbai: The Aviation Ministry and Directorate General of Civil Aviation (DGCA) on Tuesday informed the National Company Law Tribunal (NCLT) that they will positively consider any concrete business plan for the grounded Jet Airways.
The counsel representing the Ministry told the tribunal that it will examine the issue if Jet Airways prospective investors come up with a concrete business plan.
He further said that slots are perishable assets and it cannot be utilized by other airlines.
The deadline for applying for the next round of airport slots is January 15.
Airport slots, the permit for arrival and departure at an airport, play an important role for potential bidders to value the grounded airline.
The Ministry further said that two new foreign investors have shown very early interest for the grounded airline besides South Americas Synergy Group, which is the sole company to have shown interest in Jet Airways till now.
Earlier on December 11, the tribunal comprising Bhaskara Pantula Mohan and Rajesh Sharma had asked senior officials from the Civil Aviation Ministry and DGCA to depute responsible officials for Tuesday hearing.
The Tribunal had once again directed the regulator DGCA and the aviation ministry to give clarity on the available Jet Airways slots.
17/12/19 PTI/Economic Times
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