Jalan-Kalrock consortium committed to bringing Jet Airways back to life

The Jalan-Kalrock Consortium, new promoters of the beleaguered Jet Airways, said on Thursday, March 17 that the scheduled services of the airline will restart soon. The consortium, in a statement, stated that the “restart activities are progressing well”. 

The consortium, however, added that the extension of the timeline (to revive the airline) has “nothing to do where aircraft are registered and deregistered of the cost of leasing.” 

“We are working closely with the Ministry of Civil Aviation, Government of India, and the Directorate General of Civil Aviation (DGCA) on the approval process and timelines for proving flight, following which the Air Operator Certificate (AOC) of Jet Airways will be re-validated. The resumption of scheduled services will follow soon thereafter.

Restarting an airline is a complex exercise that must be done meticulously, in coordination with the Regulatory Authorities and we are well underway with the process. The timeline reflects the typical duration of an AOC process however we fully expect to have the proving flight and AOC well in advance of the filed timelines.”

Jet Airways

It further stated that there is no regulatory requirement of taking an aircraft outside India for re-registration.  

The consortium added that it is working with multiple aircraft lessors as well as aircraft manufacturers to source aircraft that will be inducted into the Jet Airways’ fleet over the next three to five years. 

Jalan-Kalrock consortium committed to bringing Jet Airways back to life

According to media reports, the Jalan-Kalrock consortium has sought two more months to conclude the regulatory requirements to revive Jet Airways’ air operator certificate and has submitted an application to the National Company Law Tribunal (NCLT) in this regard.  

The deadline to revive the airline ends on March 22. Jet Airways suspended its operations in April 2019 due to a cash crunch.

ALSO READ – Sanjiv Kapoor named as the CEO of Jet Airways

Earlier this month, Going ahead with their plans of restarting operations by summer months, Jet Airways has chosen Sanjiv Kapoor, who has headed revenue and strategy departments at SpiceJet and Vistara, to lead the new Jet Airways.

Jet Airways suspended its operations in April 2019 due to a cash crunch.

The Jalan Kalrock Consortium and the Management Team is working with multiple aircraft lessors as well as aircraft manufacturers to source aircraft that will be inducted into the Jet Airways fleet over the next 3-5 years.

ALSO READ – Vipula Gunatilleka, former CEO of Sri Lankan Airlines, appointed as Jet Airways’ CFO

In February, the Jalan-Kalrock consortium-owned airline announced the appointment of former Sri Lankan Airlines CEO Vipula Gunatilleka as the Chief Financial Officer (CFO).

Jet’s management team has been holding meetings with key airports to discuss slot allotments

The process of reviving Jet Airways has been going on for a while now. The airline went bust in April 2019 in a rather dramatic way. As attempts to bring the downed carrier back to life gained steam, Jet Airways’ Committee of Creditors, led by the State Bank of India, declared the Jalan-Kalrock consortium the airline’s new owners in October 2020.

In June 2021, the NCLT gave the nod to Jet’s revival plan, and since then, its promoters have been working to put the broken pieces together to resurrect the airline. Jet’s management team has been holding meetings with key airports to discuss slot allotments and deliberating on matters such as where its new headquarters will be.

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