There seems to be some hope left regarding Jet Airways’ revival plan, with the airline’s winning bidder, the Jalan-Kalrock Consortium (JKC), managing to get the carrier’s air operator certificate renewed. But significant questions regarding its flight resumption plans remain. Jet did stir things up two years ago with reports of its comeback, but the plan has been delayed more times than one can count.
Jet Airways has once again been granted its AOC, a significant milestone given that it wants to restart operations. The airline was initially given the AOC last year, which expired in May 2023 because it failed to resume flights.
Since then, questions have been raised if there’s enough steam left in Jet’s revival strategy. The Jalan-Kalrock consortium, meanwhile, thanked India’s aviation regulator, the DGCA, as well as the Ministry of Civil Aviation for continuing to have faith in them. It released a statement saying, “The Jalan and Kalrock Consortium remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline's success. JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in coming weeks.”
Jet has seemingly made progress like this plenty of times before, only to have its plan halted by one issue or another, mostly related to its troubled financial past.
Getting an AOC this time around wasn’t quite as simple. The DGCA had asked Jet’s winning bidders to first iron out the issues with its lenders before expecting its AOC back. Several of Jet’s top executives and employees, including its CEO-designate Sanjiv Kapoor, also resigned in the last few months.
All of these developments raised questions regarding Jet’s preparedness. But clearly, the airline’s management team has been able to convince the authorities enough to get their permit back.
The most challenging aspect of the entire revival plan has been overcoming Jet’s troubled financial past. Its creditors came on board initially, but multiple delays and deadline extensions have plagued its revival journey so far. Jet was supposed to restart operations pretty much around the same time as Akasa Air last year, but there’s still no clarity on when that would happen.
01/08/2023 Gaurav Joshi/Simple Flying
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