new Delhi. United Arab Emirates-based businessman Murari Lal Jalan and the consortium (consortium) of London’s Kalrock Capital said on Monday that they expected the airline to begin operations by the summer of 2021. The consortium won the bid to revive Jet Airways. The consortium is awaiting NCLT and other regulatory approvals, including the restoration of slots and bilateral traffic rights by the Ministry of Civil Aviation and the Directorate General of Civil Aviation (DGCA).
Jet Airways is also planning to start freight services after resuming operations. The Creditors’ Committee (CoC) has already approved the airline’s revival plan submitted by the union in October. Significantly, Jet Airways flights were closed on 17 April 2019 due to the liquidity crisis. Jet Airways took the last flight from Amritsar to Mumbai after 10 pm on 17 April.
The consortium said in a release, ‘As per the resolution plan, Jet Airways intends to operate all its historic domestic slots in India and resume international operations. The Jet 2.0 program aims to revive the previous glory of jet airweight. The program accompanies a new set of processes and systems to ensure greater efficiency and productivity on all routes. ‘
The release further stated, “If everything goes according to plan and the consortium gets timely approval from NCLT and other regulators, Jet Airways will be seen flying in the sky in the summer of 2021”.
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