Companies

Jet Airways set to resume domestic operations in first quarter of calendar year 2022

Our Bureau Mumbai | Updated on September 13, 2021

The Jalan Kalrock consortium also aims to start international operations by mid-2022

After being grounded for over two-and-a-half years, Jet Airways is set to resume domestic operations in the first quarter of calendar year (CY) 2022, according to the Jalan Kalrock consortium, the successful resolution applicant of Jet Airways. The consortium also aims to start international operations by mid-2022. Captain Sudhir Gaur has been appointed as the acting CEO of the company.

Murari Lal Jalan, lead member of the Jalan Kalrock Consortium and the proposed Non-Executive Chairman of Jet Airways said that Jet Airways 2.0 aims to restart domestic operations by Q12022, and short haul international operations by Q3/Q42022.

“Our plan is to have over 50 aircraft in 3 years and over 100 in 5 years, which also fits perfectly well with the short-term and long-term business plan of the Consortium,” Jalan said. The aircraft are being selected based on competitive long-term leasing solutions.

Revival process on track

In a statement released on Monday, the consortium said that the process of reviving the grounded carrier is on track with the existing Air Operator Certificate (AOC) already under process for revalidation. “The consortium is working closely with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking,” it said.

The revival plan for Jet Airways is being implemented as approved by NCLT and all the creditors will be settled as per the plan in the coming months, it said. The consortium received the NCLT approval in June 2021.

Captain Sudhir Gaur, Accountable Manager, and acting CEO, visited key airports last month and held productive meetings, it said.

Sharing operational details, Captain Gaur said, “Jet Airways will now be headquartered in Delhi NCR with its senior management working from the Corporate Office at Gurugram. Jet Airways will restart its operations with its first flight from New Delhi to Mumbai by Q12022.”

“However, Jet Airways will continue to have a strong and significant presence in Mumbai where it will work from its ‘Global One’ office in Kurla. Jet Airways also has a training centre located at Global One, which will be retained and used for in-house training for the Jet Airways team,” he said.

Gaur further said, “We will start with domestic operations on an all narrow-body aircraft fleet leased from major global aircraft lessors who have approached us, and with whom we continue to engage. Jet Airways has already hired 150+ full time employees on its payroll and we are looking to onboard another 1,000+ employees in FY 2021-22 across categories.”

Meanwhile, the NCLAT has agreed to hear Punjab National Bank’s appeal on the resolution plan.

Published on September 13, 2021

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