Companies

Decision on slots for Jet Airwayslikely within a fortnight

Our Bureau Mumbai | Updated on April 05, 2021

A decision on renewing slots for Jet Airways is likely to be taken within a fortnight, the counsel appearing on behalf of the airline's new owners— Murari Lal Jalan and Kalrock Capital — informed the NCLT on Monday.

The Mumbai Bench was also informed by the counsels appearing on behalf of the DGCA and MOCA that an amicable solution is likely on the same via a series of meetings. In this regard, the Bench will hear the case next on April 15.

The Bench of Janab Mohammed Ajmal and V. Nallasenapathy was informed that MoCA and DGCA had appointed a nodal officer to address the issue, and that both sides were optimistic of a resolution in coming weeks.

BusinessLine had reported that the consortium had been meeting government authorities in order to resolve the issue. Sources have now said that a team of employees, too, met the authorities of the Civil Aviation Ministry, requesting them to give some assurity on the historical slots of Jet Airways.

Landing slots are an important intangible asset for an airline, and it often costs a lot of money to grab a premium slot. Jet Airways had one of the most premium slots available at metro city airports in the country.

Post its temporary grounding in April 2019, Jet’s slots were allotted to other players.

Now, the consortium has bid on the condition that it would get preference while the slots were being allotted for the next schedule.

Published on April 05, 2021

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