- Jet Airways resumes flights
- Domestic flights will resume by March 2022
Jet Airways will suspend services in April 2019 due to the financial crisis. For the first time in the history of the Indian aviation sector, an airline that has been idle for more than two years is being revived. The Jalan Kalrock consortium, which is being acquired by Jet Airways, has announced the resumption of services. It is a London based company. The consortium is led by London-based Calrock Capital and expatriate businessman Murari Lal Jalan.
Short-haul international flights are expected to resume by mid-2022. The company aims to have 50 aircraft in three years and 100 aircraft in five years.
The company is preparing to renew its existing Air Operator Certificate (AOC). The consortium said the process was progressing. Discussions are underway with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure and parking facilities.
The Jalan Kalrock consortium is investing a total of Rs 1,375 crore in the airline in the first phase. The new resolution plan is worth Rs 7,800 crore. On June 22, the National Company Law Tribunal approved a consortium resolution plan for Jet Airways. The company has been under bankruptcy proceedings since June 2019. It ceased operations in April 2019.
Also Read: Jet Airways: Past, Present, Future
The move follows the appointment of Captain Sachin Gaur as the new Accountable Manager and Acting CEO of Jet Airways. Murari Lal Jalan, head of the consortium, will continue as the non-executive chairman of Jet Airways. Jet Airways has been a strong brand for the past two decades. With the resumption of air services, Jet Airways may relocate its headquarters to Delhi. The corporate office is at Gurugram. The company will also announce its presence in Mumbai. Jet Airways has a state-of-the-art training center in Mumbai. It will be retained and used for in-house training for the new Jet Airways team.
Says Captain Gaur. Domestic operations will be resumed on aircraft contracted by major global airlines. Jet Airways has already hired more than 150 full-time employees. In addition, by 2021-22, more than 1,000 new employees will be recruited in various categories. The new appointments will be phased out.