Monday, September 13, 2021

Jet Airways to take to skies in 2022; flight path not all clear yet

Precious little had been heard from the Jalan Kalrock consortium, the approved bidder for taking over Jet Airways and restarting operations for the airline that was grounded in 2019. Till so far, that is.

Jalan Kalrock is the consortium created by Murali Lal Jalan, an NRI businessman, with Kalrock Capital, an investment group formed by serial entrepreneur Florian Fritsch. The consortium had won the bid to take over Jet Airways in October 2020, with the creditors to the airline, mostly banks, agreeing to take a significant haircut in the process.

Jalan Kalrock now foresees domestic operations for the airline to re-start in Q1 2022, with the first flight between Delhi and Mumbai. The airline, in its new version, expects to receive Air Operators Permit shortly, and says the process is already ongoing. It has already hired 150 people, and intends to hire another 1,000 people as it intends to take to the skies again next year.

The consortium states that planes won’t be bought, but rather leased on a long-term. The initial fleet for the airline will be 50 narrow-body aircraft, to be inducted over the first three years of operation. These aircraft are expected to be used for domestic operations, as well as international operations to neighboring countries, such as the UAE and Thailand. Over time, Jalan Kalrock intends to build the fleet to 100 aircraft in the first five years.

13/09/21 Ajay Awtaney/Free Press Journal

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