Sunday, December 19, 2021

Jet ready to resume operations in 2022, asks NCLT to fast-track resolution

New Delhi:  Grounded airline Jet Airways will resume its operations “at the earliest” in 2022 with six narrow body aircraft soon after the revalidation of its existing Air Operator Permit (AOP), the Jalan-Kalrock consortium, the airline’s new promoters, said in a statement on Friday.

The consortium’s plan to restart Jet, which was grounded in April 2019, comes at a time when the Omicron variant of coronavirus is posing a threat to domestic as well as international flight movement.

Additionally, India’s aviation sector is expected to become more competitive as highly funded Akasa will begin its operation early next year.  

The consortium, whose plan to revive Jet was approved by the NCLT in June 2021, said that they have approached the National Company Law Tribunal (NCLT) to fast track the implementation of the resolution plan.

“The consortium is ready with its investments and given the progress the team has made operationally since NCLT approval in June 2021, we feel it is time to fund the company immediately for revival of the business, without delay,” said Murari Lal Jalan, lead member of the consortium and proposed promoter & non-executive chairman of Jet Airways.

He said, “We are aiming to start domestic operations at the earliest in 2022 as a full-service carrier.” 

On the fleet type, Florian Fritsch of Kalrock Capital Partners, said that Jet will commence its operations in 2022 with 6 narrow-body aircraft and reach 100+ aircraft fleet in 5-year. 

18/12/21 New Indian Express

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