The Directorate General of Civil Aviation (DGCA) granted renewal of Air Operator Certificate (AOC) to Jet Airways on July 28. Due to the ongoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), the DGCA has extended the deadline for implementing the approved resolution plan until September 3.
As part of the renewal process, Jet Airways is required to undergo a re-certification procedure, outlined in CAP 3100, applicable for the issuance of the AOC. The airline must demonstrate complete adherence to all applicable regulatory requirements before resuming flight operations. To achieve this, Jet Airways will need to submit a comprehensive action plan outlining its revival strategies after the takeover by the Jalan-Kalrock Consortium, according to the NCLT-approved resolution plan, said DGCA officials.
While the AOC renewal has generated optimism and bolstered confidence among stakeholders, the consortium faces challenges with the Committee of Creditors (CoC). As reported on July 28, the CoC has not yet provided permission for the resumption of operations, despite the consortium obtaining all necessary government approvals.
The Jalan-Kalrock consortium expressed its gratitude to the aviation regulator, the Ministry of Civil Aviation, and other stakeholders for their unwavering support in this revival endeavor. Their commitment to resurrecting Jet Airways and returning it to its former glory is evident, and they remain dedicated to ensuring a smooth transition back to operational status.
“The renewal of AOC revalidates the confidence of the Indian aviation regulator in the revival of Jet Airways… The Jalan and Kalrock Consortium remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline’s success. JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in coming weeks,” JKC said.