Jet Airways is ready to start domestic operations in 2022

Jet Airways is ready to commence domestic operations, according to the Jalan Kalrock Consortium, the successful resolution applicant of Jet Airways. The Indian airline suspended operations in April 2019 after it ran out of funds. The Consortium has approached the National Company Law Tribunal (NCLT), the bankruptcy court where Jet Airways’ new owner was decided, to fast track the implementation of the Approved Resolution Plan by infusing fresh capital in Jet Airways. Consortium commits to funding and reviving Jet Airways.

The Consortium has stated that they want 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. In its latest filing before the NCLT, and has December 22 as its plan “effective date” and seeks to forthwith implement the plan as approved by NCLT last June.

Elaborating further, Mr. Murari Lal Jalan, Lead Member of the Consortium and proposed promoter and Non-Executive Chairman of Jet Airways, said: “We are excited to embark on the next phase of the revival of India’s most loved airline. We at JKC await the Hon’ble NCLT’s decision on our last filing and look forward to recommencing operations of Jet Airways at the earliest.”

Jalan further clarified that “the Consortium is ready with its investments. Given the progress the team has made operationally since NCLT Approval in June, we feel it is time to fund the company immediately for the 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.” airlineratings.com