Jet Airways says recovery process is going well
Jet Airways has provided an update on how far it has come to restart operations. The carrier’s second stint is set to begin this year after a new group of promoters – the Jalan-Kalrock consortium – pumped money into the bankrupt airline. Jet officials are busy securing all necessary clearances and are confident to begin scheduled flights soon.
The Jalan-Kalrock consortium issued an official statement on March 17 stating that Jet Airways’ restart activities are “progressing well”. Jet’s team would work closely with the Ministry of Civil Aviation (MoCA), Government of India and the Directorate General of Civil Aviation (DGCA) to secure all necessary approvals including revalidation of all – important air carrier certificate (AOC).
The carrier is preparing for the test flight, which is necessary to obtain the AOC. Obtaining clearances from the relevant authorities can take a long time, and Jet’s statement attempts to explain the complexity of the process, adding,
“Restarting an airline is a complex exercise that must be done carefully, in coordination with regulators and we are well advanced in this process. The timeline reflects the typical length of an AOC process, but we expect the test flight and AOC to be well ahead of the filed deadlines.
The airline is working on a March 22 deadline to revalidate the AOC. It marks the completion of 270 days from June 22, 2021, when it received approval from the National Companies Law Tribunal (NCLT) for its resolution process.
The carrier is working on the revalidation of its AOC. Photo: Getty Images
According to a report from Trade standard, Sources familiar with the matter revealed that the process took time due to delays in leasing aircraft. The original plan was to lease the planes through GIFT City, Gujarat, but it cost them more than doing it overseas.
The airline, however, clarified that the extension of the deadline has nothing to do with where the plane is registered, adding,
“Furthermore, there is no regulatory requirement to fly out of India for re-registration purposes. We are working with several aircraft lessors as well as aircraft manufacturers to source aircraft that will be integrated into the Jet Airways fleet over the next three to five years.
Jet is expected to begin operations with a modest fleet of Boeing 737 aircraft. Photo: Getty Images
The Jet Airways relaunch process has been underway for some time now. The airline went bankrupt in April 2019 in a rather dramatic way. As attempts to bring the downed carrier back to life gathered momentum, Jet Airways’ creditors’ committee, led by the State Bank of India, declared the Jalan-Kalrock consortium the airline’s new owners in October. 2020.
In June 2021, the NCLT gave a nod to Jet’s recovery plan, and since then its proponents have been scrambling to piece together the broken pieces to resuscitate the airline. Jet’s management team has held meetings with major airports to discuss slot allocations and deliberate on issues such as the location of its new headquarters.
From planning fleet development and seeking pre-launch debt settlement to opening up applications and hiring a new CEO, a lot has happened in the past few months alone. While the airline’s restart process was never going to be easy, many former Jet fans are hoping to see it live again soon.
What are your predictions on the Jet Airways relaunch schedule? Please share your thoughts in the comments section below.
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