Fund infusion, recommencing operations: Jalak Kalrock lay out New Year plans for Jet Airways

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MUMBAI: Plans are afoot to recommence Jet Airways operations as early as possible in 2022 with six narrow body aircraft, announced Jalan Kalrock Consortium, the successful Resolution Applicant of Jet Airways in a press statement issued on Friday.
The long term goal is to reach a hundred plus aircraft fleet as a 5-year plan, it added.
The consortium said it plans to infuse capital into Jet Airways and has approached the National Company Law Tribunal (NCLT).
“The Consortium wants to commence payments to all stakeholders including ex-employees, workmen, ticket claimants and lenders of Jet Airways as per the plan approved by the NCLT in June 2021. In its latest filing before the NCLT, the Consortium has intimated December 22, 2021, as its plan “effective date” and seeks to forthwith implement the plan as approved previously by NCLT in June 2021,” it said.
On the revalidation of its existing Air Operator Certificate (AOC), the Consortium clarified that the process of revalidation was initiated in August 2021 itself, within days of receiving the NCLT approval, and the process has now been fast-tracked.
“The Consortium is confident of receiving the AOC in the coming months and will start operations soon thereafter. We are in regular touch with the DGCA and the Ministry of Civil Aviation to have Jet’s AOC revalidated and we thank the authorities for their continued support. Jet Airways has an existing AOC valid until 2023, which was only suspended in 2019 due to the financial health of the company then, and the current process taken up is towards removing the said suspension and therefore the time required for getting the AOC revalidated will be substantially lesser in comparison to obtaining fresh AOC by a new company,” it added.
On slots at key airports, including Delhi and Mumbai, the Consortium clarified that it is working closely with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking and is confident to get the initial slots required by to commence operations.
The new owners said they have held multiple rounds of discussions with all key airports which form part of the initial network plan and are confident to get the required slots in the Summer Schedule of 2022.
With regards to manpower, the consortium said it has received more than 35,000 applications across job categories. Jet Airways 2.0’s new corporate office will be in Gurugram and the Consortium is looking for a bigger office in Delhi NCR to house the entire team in one office.”
Murari Lal Jalan, lead member of the Consortium said “ We await the NCLT’s decision on our last filing and look forward to recommencing operations of Jet Airways at the earliest. The Consortium is ready with its investments and given the progress the team has made operationally since NCLT Approval in June 2021, we feel it is time to fund the company immediately for revival of the business, without delay”.
He reiterated that “We are aiming to start Domestic Operations at the earliest in 2022 as a Full-Service Carrier and look forward to creating history with Jet Airways revival.”

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