Thursday, October 13, 2022

Jet Airways to start operations with five aircraft by October end

After a hiatus of three years, Jet Airways is planning to resume its operations in India by the end of this month with five aircraft. The domestic carrier will initially take off with three A320 Neo and two B737-8 MAX planes, according to a CNBC TV-18 report.

The airline has not signed lease agreements with lessors as of now and it is under process, the report said.

Jet Airways has been looking to restart its operations, which was initially scheduled for September, but has been struggling with payment to its lenders.

Lenders led by the State Bank of India (SBI) who had approved the resolution plan by the consortium in October 2020 have asked the Jalan Kalrock Consortium to distribute proceeds from aircraft rentals that Jet Airways receives among financing banks.

The resolution plan for the revival of Jet Airways was finalised in October 2022 and the plan's implementation was conditional on the validation of Jet Airways' air operator's permit, approval of the business plan and the approval to re-allot all suspended slots including bilateral and air traffic rights to Jet.

12/10/22 Moneycontrol

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