Three years after it was grounded due to the financial crisis, Jet Airways is ready to take to the skies again, with the approval of the aviation regulator to resume carrier operations.
The full-service career is set to begin commercial operations in the third quarter of this calendar year
Jet Airways has received a revised Air Operator Certificate (AOC) from the Directorate General of Civil Aviation (DGCA), the final step in the compliance process for testing an airline’s operational readiness. AOC enables Jet Airways to resume its scheduled commercial operations in India, it said in a statement on Friday.
The AOC process includes a number of certified flight display carriers between May 15 and May 17, including DGCA chief executives.
“Today marks a new dawn not only for Jet Airways but also for the Indian aviation industry. We are now on the verge of making history by bringing India’s most beloved airline back to the skies. We will not only meet the high expectations from the brand Jet Airways, we will surpass them in many ways for today’s prudent flyers. We are committed to making this a great success for Indian aviation and Indian business, “said Murari Lal Jalan, chief member of the Jalan-Kalrak consortium.
The Jalan-Kalrak Consortium is a successful resolution petitioner following the bankruptcy process of Jet Airways. Jet Airways was the first carrier to be taken to the National Company Law Tribunal by its lenders, and the airline is now resuming operations under its own name with a new management.
In June 2021, NCLT approved the resolution plan of UK-based Calrock Capital and UAE-based trader Jalan. The consortium offered to pay াত 1,183 crore to lenders within five years from the sale of assets and cash flow proceeds.
Before it ceased operations in April 2019, the carrier served about 1,000 domestic and international routes. In its second incarnation, Jet Airways 2.0, India’s oldest private airline, will fly first on major domestic routes and then overseas destinations.
In early March, the consortium announced the appointment of Sanjeev Kapoor, a veteran of the travel industry, as CEO of Grounded Careers, effective April 4. Kapoor was president of Oberoi Hotels & Resorts and also worked with rival airlines such as Tata-owned Vistara. And SpiceJet in leadership roles.
“There is a need for an airline that not only clones other airlines, but actually offers something that is significantly different when offering new ways to attract, delight and win customers. An airline that understands that doing the right thing by customers, employees, partners and all stakeholders is the only way to do business. In the restart team, we are all deeply committed and passionate about building the new Jet Airways into a modern, diverse, people-centric airline for the digital age, ”said Kapoor.
Additional senior management appointments will be unveiled next week, and recruitment for the operational role will now also begin earnestly, wherever possible Jet Airways ex-employees will be given priority, the statement added.
A few days before Kapoor’s appointment, Jet Airways appointed Vipula Gunatileka, former CEO of SriLankan Airlines, as its chief financial officer.
Regarding his resume plans, the career says it will return to a new incarnation, with new funding, changed ownership and new management. Aircraft and fleet plans, networks, products, loyalty programs and other details will be unveiled in phases in the coming weeks, it said.
Once airborne, Jet Airways will have to compete with low-cost carriers such as SpiceJet and Indigo, and with renowned investor Rakesh Jhunjhunwala-backed Akasha, which is expected to start operations soon.