Jet Airways hasn't signed an aircraft leasing agreement yet

Jet Airways has not yet finalised or entered into any arrangement related to aircraft, the airline clarified in a response to the Bombay Stock Exchange on October 6.

The airline's statement comes after it was reported that the airline has entered into a lease agreement with Dublin-based lessor Avolon to lease A320 aircraft.

ALSO READ – Jet Airways to lease A320s from Avolon; plans to restart operations by November

Denying the reports the Jalan-Kalrock consortium said that while it is allowed to explore opportunities in the market, considering the regulatory framework of the aviation sector, there should not be any reason for relying upon reports to confirm whether it has finalised a deal to lease aircraft.

Jet Airways hasn't signed an aircraft leasing agreement yet

However, the company or the constituted Monitoring Committee or its authorised representatives have not finalised or approved or entered into any arrangement related to aircraft, as referred in the media reports, the airline said.

Jet Airways has been looking to restart its operations by November this year but has been struggling with payment to its lenders. Jet Airways has already bagged the AOC, and chances are that it will start operations with Airbus A320 aircraft.

"The process of taking decisions related to aircraft/ fleet etc. have regulatory considerations requiring every aircraft to be registered with Indian aviation authorities and such actions will not be taken without proper compliance by the Company. Neither Jet Airways nor its authorized representatives have made any media or public statements in relation to a future fleet of aircraft or lease."Jet Airways

ALSO RAED – Jet Airways’ lenders to get rental earnings from Jalan-Kalrock Consortium

Lenders led by the State Bank of India (SBI) who had approved the resolution plan by the consortium in October 2020 have asked the Jalan Kalrock Consortium to distribute proceeds from aircraft rentals that Jet Airways receives among financing banks.

ALSO READ – Lenders of Jet Airways threaten bankruptcy over aircraft rental revenues

The resolution plan for the revival of Jet Airways was finalised in October 2022 and the plan's implementation was conditional on the validation of Jet Airways' air operator's permit, approval of the business plan and the approval to re-allot all suspended slots including bilateral and air traffic rights to Jet Airways.

Lenders to Jet Airways have agreed to waive two preconditions to facilitate the takeover of the airline by the Jalan-Kalrock consortium.

ALSO RAED – Jet Airways’ lenders to get rental earnings from Jalan-Kalrock Consortium

Recently, lenders to Jet Airways have agreed to waive two preconditions to facilitate the takeover of the airline by the Jalan-Kalrock consortium. In return, the consortium agreed last week to make the first tranche of its payment to lenders to get the stalled deal moving forward.

ALSO READ - Jet Airways to make the first tranche of payment to lenders

However, the plan’s implementation was conditional on the validation of Jet Airways’ air operator’s permit, approval of the business plan and, most critically, the approval to re-allot all suspended slots including bilateral and air traffic rights to Jet Airways.

Today, Joby Aviation and Skyports Infrastructure revealed plans to create a Living Lab passenger terminal. This will allow the two businesses to test a range of technologies and procedures that will help determine how passengers will experience vertical flying in the future.

Our all-electric vertical take-off and landing aircraft is set to revolutionize the way we travel in and around cities. Joby riders will skip the traffic, flying directly to their destination at up to 200 mph said Eric Allison, Head of Product at Joby

Eric Allison | eVTOL.news

The company's pilot production facility, where the first production prototype is presently being created, will be made available to a variety of partners and investors as part of Joby's Field Trip event.

Representative | Santa Cruz Works

We expect the Living Lab to be instrumental in our efforts to engage regulators, government officials, and the public to demonstrate the benefits of electric vertical take-off and landing operations and promote acceptance of this new form of mobility. Our aim is to develop vertiport infrastructure that delivers a ‘zero-wait’ check-in experience for customers, and we’re delighted to be working with Joby, one of the leading companies in this sector, to prepare for that futureDuncan Walker, CEO at Skyports, said

Duncan Walker | Source

The Living Lab was unveiled beforehand. It will be on display at places across the US for the next 18 months, allowing business and the general public the chance to experience the aviation of the future.

To realize the vision of everyday flight, we need to deliver a seamless and more rapid experience on the ground. The Living Lab will allow us to rethink the terminal experience, keeping our customers front and center throughout their entire journeysaid Eric Allison

The development of a vertiport at a general aviation airport in London was announced earlier this year by Skyports. The company's European vertiport testbed will debut in November at the Pontoise-Cormeilles airport near Paris, with a comprehensive schedule of live flight operations.

SOURCE: Joby Aviation

COVER: Santa Cruz Works

Tamil Nadu has invited Czech Republic-based light aircraft manufacturer, Evektor Aircraft to invest in the state, the State Government said on Wednesday.

Minister for MSME, T M Anbarasan during his visit to the MSV International Engineering Fair in the Czech Republic was explained about the investment opportunities available in their country by senior Government officials.

Later, Anbarasan accompanied by senior officials of the MSME department visited the manufacturing facility of Evektor Aircraft during which the Minister invited them to invest in Tamil Nadu.

Evektor-Aerotechnik is a Czech aircraft manufacturer based in Kunovice, Czech Republic. The company produces a range of light sport aircraft, training, advanced ultralight aircraft and electric aircraft.

Evektor-Aerotechnik is based at Kunovice Airport, a region known for its aircraft industry since 1936. Evektor-Aerotechnik dates back to 1970 when Aerotechnik was established as a producer of small general aviation airplanes. Its first aircraft were gyrocopters and motor gliders, later diversifying into the overhaul and maintenance of a range of Czech general aviation aircraft, including the Zlin aircraft family.

Tamil Nadu has been silently going about identifying its advantages and converting them into opportunities to emerge stronger in the aerospace and defence segments. The aim is for Tamil Nadu to emerge as the manufacturing and service hub for aerospace and defence industries in the country.

Also, Tamil Nadu-based Micro Small and Medium Enterprise (MSME) had clinched a deal with the largest aerospace firm Boeing. Aerospace Engineers Private Limited, located in Salem, won a long-term contract from Boeing to manufacture and supply critical aviation components and parts for the global aerospace company’s products.

ALSO READ - TIDCO and GE team up to establish an aviation engine technology centre in Tamil Nadu

Also, US-based aircraft engine manufacturer GE has partnered with the Tamil Nadu Industrial Development Corporation (TIDCO) to set up a Centre of Excellence in the southern state on emerging aviation engine technologies.

ALSO RAED - Boeing chose Tata Aerospace as its “Supplier of the Year”

VietJet recently inaugurated two new routes connecting Hanoi, Ho Chi Minh City with Ahmedabad, the largest city in the state of Gujarat in western India.

Constantly expanding the flight network connecting India with Vietnam, the carrier will operate four weekly return flights every Tuesday, Thursday, Saturday, and Sunday for each route.

The new route launch is part of its expansion plan to cover up to 17 services between Vietnam’s key cities of Ha Noi, Ho Chi Minh City, Da Nang and Phu Quoc with India’s hubs of New Delhi, Mumbai, Ahmedabad, Hyderabad and Bangalore.

The budget carrier is keen on spreading routes in India rapidly.Credit: Asian Aviation.

With a flight time of just over four hours per leg, VietJet is making it easier and affordable for Indians, and now travellers from Ahmedabad, to visit Hanoi, the capital of Vietnam, and Ho Chi Minh City, an economic icon with a vibrant pace of life.

Currently, operating 17 direct routes connecting India and Vietnam, VietJet has emerged as a pioneering airline bridging the distance and travel time between the two.

ALSO READ - Vietnam to end Covid-19 travel restrictions on international flights

Vietnam scrapped all quarantine and other COVID-related travel restrictions earlier this year to boost the country's tourism industry, and India seems pretty high on its list. It wasn't too long ago when Indians had to take connecting flights to reach Vietnam, but currently, there are many non-stop routes available between the two countries, many of those offered by VietJet.

ALSO READ - Vietjet to resume India-Vietnam flights from April 29 with new routes

VietJet currently operates an all-Airbus fleet for short and long-haul flights.

ALSO READ - Vietjet to connect the coastal city of Da Nang with 5 Indian cities

Recently, the airline also announced that it would soon begin flights from the coastal city of Da Nang to five Indian cities – New Delhi, Bengaluru, Hyderabad, Mumbai, and Ahmedabad.

Regional routes are quite important to VietJet. It currently operates an all-Airbus fleet for short and long-haul flights. But that will change in a couple of years with the introduction of Boeing's 737-10 MAX aircraft.

An Army Aviation pilot was killed after a Cheetah helicopter on a routine sortie in the forward area near Tawang in Arunachal Pradesh crashed. An Army helicopter flying in the forward area near Tawang, one of India’s last points on the China border, crashed during a routine sortie on Wednesday, October 5, killing one of its two pilots.

“An army aviation Cheetah helicopter flying in the forward area near Tawang crashed on 05 October (today) at around 10 AM during a routine sortie. Both the pilots were evacuated to the nearest military hospital…,” a statement released by an Army public relations officer at Tezpur in Assam said.

The statement said that while one of the pilots succumbed to injuries later, the second pilot was undergoing treatment. The Army has not revealed the cause of the air crash. “Details are being ascertained,” its statement said.

An Army Aviation pilot was killed after a Cheetah helicopter crashed in Arunachal Pradesh

Sources identified the deceased pilot as Lieutenant Colonel Saurabh Yadav.

"With regret, we inform that one of the pilots, Lt Col Saurabh Yadav, who was critically injured succumbed to the injuries during treatment. The second pilot is under medical treatment. The cause of the crash at this stage is not known. Details are being ascertained," an official statement read.

ALSO READ - IAF Mi-17 chopper crash-lands in Arunachal Pradesh, all crew safe

Arunachal Pradesh has had a history of chopper crashes in recent years, bad weather being the reason behind most of them. Since 2010, over 40 people have lost their lives in six helicopter crashes in the Northeast state. They include former chief minister Dorjee Khandu.

ALSO READ - Army helicopter crash lands in Udhampur, two army pilots killed

The ageing fleet of Cheetah and Chetak helicopters are in urgent need of replacement.

Another Cheetah helicopter of the Indian Army crashed near the Line of Control in Jammu and Kashmir in March. A pilot died in the incident while the co-pilot was severely injured. It was on a mission to evacuate an ailing soldier from a forward post.

The ageing fleet of Cheetah and Chetak helicopters are in urgent need of replacement. France, the Original manufacturer of these helicopters has already retired them from service. Chetak is the upgraded version of Cheetah.

The Army Aviation currently operates around 190 Cheetah, Chetak and Cheetal helicopters, with five of them, the oldest, being over 50 years old. A bulk of the fleet, close to 130 of the 190, are between 30 to 50 years old.

The total technical life of these helicopters will start finishing from 2023 onwards which will only further exacerbate the existing deficiencies.

This fleet is the lifeline in transporting supplies and for evacuations in high-altitude areas including the Siachen glacier. In addition to the Army, the Navy and IAF to operate these helicopters. For instance, the IAF has around 120 Cheetah and Chetak and around 18 of the more recent Cheetahs.

The total technical life of these helicopters will start finishing from 2023 onwards which will only further exacerbate the existing deficiencies.

These helicopters were inducted in the 1960s and 1970s and these form the bulk of the fleet in operation with the Indian military with around 400 of them in service. The Army operates more than 200 of these. The five-seater helicopter is designed for operation over a very wide range of weight, centre of gravity and altitude conditions. It is versatile, multi-role, multipurpose, highly manoeuvrable and rugged in construction.

Lenders to Jet Airways have agreed to waive two preconditions to facilitate the takeover of the airline by the Jalan-Kalrock consortium. In return, the consortium agreed last week to make the first tranche of its payment to lenders to get the stalled deal moving forward.

Lenders led by the State Bank of India (SBI) approved the resolution plan by the consortium in October 2020, according to The Economic Times.

However, the plan's implementation was conditional on the validation of Jet Airways' air operator's permit, approval of the business plan and, most critically, the approval to re-allot all suspended slots including bilateral and air traffic rights to Jet Airways.

ALSO RAED – Jet Airways’ lenders to get rental earnings from Jalan-Kalrock Consortium

Jet Airways to make the first tranche of payment to lenders

Jet Airways' new owners, the Jalan-Kalrock consortium, plan to gradually pay off creditors over the next few years and devised a debt settlement plan in December 2021. Back then, the owners were confident of quick progress and hoped to relaunch the airline early this year.

But opposition from lenders, among other things, has delayed those plans with no official date in sight for the launch. In fact, in July, the group of lenders, led by one of India's leading banks, even threatened the carrier with insolvency if it did not pay them the proceeds from rentals of its aircraft. But the latest reports suggest that things could start moving again.

"Because of the delay in the implementation of the plan, lenders have agreed not to oppose any plea by the consortium in the NCLT seeking a waiver of these conditions," said a person aware of the developments. "However, the completion of the deal still hinges on payments to lenders without which control will not be transferred."

Jet Airways' new owners, the Jalan-Kalrock consortium, plan to gradually pay off creditors over the next few years and devised a debt settlement plan in December 2021.

The 15-month delay after the National Company Law Tribunal (NCLT) had approved the plan has made lenders wary of the consortium's promises. "Finally, it is all about money hitting our accounts. Until that does not happen, this transaction will not go through," said a second person aware of the negotiations.

"Jalan-Kalrock has never denied transferring the money but the fact that it has taken so long raises doubts on their intentions." A person close to the Kalrock-Jalan consortium has agreed to start repaying lenders and the first tranche "will be released soon", without elaborating on either the amount or the time frame.

According to the resolution plan, the consortium offered payments of INR 380 crore in instalments and a 9.5% stake in the airline company to the lenders. The National Company Law Tribunal (NCLT) approved its plan in June 2021.

Jet Airways has missed its internal deadline of September end for the commencement of ticket sales.

Grant Thornton-backed resolution professional Ashish Chhawchha has admitted INR 7,453 crore in claims from financial creditors for which the consortium has offered payments totalling INR 1,010 crore over five years, including INR 380 crore in instalments, money from the future sale of assets and a 9.5% stake in the airline company. But the request by the consortium to waive the preconditions also has raised more doubts.

ALSO READ – Jet Airways relaunch delayed due to unresolved negotiations between the administration & engine makers

"A court order in April, allowing an extension of the effective date of the resolution plan, had cited Jet's lawyer saying all but one of the conditions - the Air Operator Permit - had been met," said a lawyer in the know. "Those included the international traffic rights and securing the domestic slots. What is Jet talking about now?"

This lawyer who has followed the case closely said that the extended effective date of the resolution plan - May 25 - has already lapsed. "Lenders have allowed the deadline to lapse in the hope that they will get their money back. If they don't soon, they will definitely take action," he added.

Jet Airways will start operations with Airbus A320 aircraft.

Jet Airways' lenders have been adamant that the airline can't buy or lease planes until the ownership is transferred; in other words, until their dues are settled. "A timeline for the repayment of dues is critical to the recovery of Jet. Lenders have so far not got anything from the consortium. Frankly, the ball is in their court," said the first person cited above.

ALSO READ – Lenders of Jet Airways threaten bankruptcy over aircraft rental revenues

Until the timeline or effective date of the debt resolution plan is provided, Jet's ownership cannot be transferred to the consortium, lenders said. Meanwhile, the airline has missed its internal deadline of September end for the commencement of ticket sales.

ALSO READ - Jet Airways to lease A320s from Avolon; plans to restart operations by November

Jet Airways has already bagged the AOC, and chances are that it will start operations with Airbus A320 aircraft.

(With Inputs from The Economic Times)