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Jet Airways to restart commercial operations from September
Jet Airways will start the process of hiring pilots for Airbus’ A320 aircraft, Boeing’s 737NG and 737Max planes as the airline is planning to resume its commercial operations in September. This comes after Jet Airways’ commercial operations were suspended on April 17, 2019, due to financial distress. “Good things come to those that wait – Jet Airways will be flying again soon! Inviting pilots who are current and type-rated on the Airbus A320 or Boeing 737NG or MAX aircraft, to apply to join us in creating history as we prepare to relaunch India’s classiest airline,” the airline wrote on its Twitter platform. Notably, the ailing airline started the process for hiring pilots for Airbus’ A320 aircraft as well as Boeing’s 737NG and 737Max planes. The airline, which reportedly received air operator certificate from aviation regulator DGCA on May 20, is yet to place an order for aircraft with either European plane-maker Airbus or American aerospace company Boeing, according to news agency PTI report. It is important to note that as of now, the ailing airline has just one operational aircraft, which is a B737NG, in its fleet. The airline has announced that it intends to recommence commercial operations in the current quarter ending September, the report said. Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, led by the State Bank of India (SBI), filed an insolvency petition in June 2019 to recover outstanding dues worth over ₹8,000 crore, the report further highlighted.
Jet Airways gets security clearance for flights
The Home Ministry in India has granted security clearance to Jet Airways as the airline plans to relaunch commercial flight operations in upcoming months, an official document said. The Jalan-Kalrock Consortium is currently the promoters of Jet Airways. The airline in its old avatar was owned by Naresh Goyal and had operated its last flight on April 17, 2019. The airline had conducted its test flight to and from the Hyderabad airport in a step towards obtaining the air operator certificate last week. A letter sent by the Civil Aviation Ministry to the airline informed it about the grant of the security clearance by the Union Home Ministry. The letter said, it is “directed to refer to your application” to convey security clearance for change in shareholding pattern of the company/firm, for scheduled operator permit, on the basis of security clearance received from the Ministry of Home Affairs.”
Jet Airways to return with no-frills hybrid models
Jet Airways is gearing up to take to Indian skies by October 2022, its CEO Sanjiv Kapoor said. The Kalrock-Jalan consortium, the winning bidder for bankrupt Jet Airways, is also planning two-class facilities for flyers. The resumption of services will come after a hiatus of more than three years. Jet Airways stopped services in April 2019 after being bogged down by financial woes. Kapoor said that Jet Airways will offer two-class facilities for flyers as part of the airline’s plan to return with a hybrid of no-frills and premium services. There will be a business class under which flyers will be offered free meals and other premium services. There will also be low-cost economy class, Kapoor said. In the economy class, passengers will have to pay for on-board meals, he said. Kapoor said domestic flyers prioritise fares primarily. Kapoor said that Air Operator Permit (AOP) approval will be obtained by the end of this month. A proving flight is required to check safety aspects of the aircraft. Earlier in March, Jalan Kalrock Consortium announced that Kapoor, who held crucial portfolios in Vistara and Spicejet, was appointed as the new CEO. Jalan Kalrock Consortium is the “Successful Resolution Applicant” and new proposed promoters of Jet Airways. In June 2021, the National Company Law Tribunal (NCLT) approved the Jalan-Kalrock Consortium’s resolution plan. (Source: India Today)
Grounded, no more! Jet Airways is back, to resume operations in early 2022
In a historic milestone for the aviation industry in India, one of its biggest former aviation players, Jet Airways is set to resume domestic flight operations in the first quarter of 2022. The airline will restart operations with New Delhi-Mumbai flight, said the Jalan Kalrock Consortium in a recent statement. UAE-based businessman Murari Lal Jalan, who is the lead member of the London-based Jalan Kalrock Consortium, said that the airline will start short international flights by the second half of the year. It could either be in the third quarter or fourth. “Our plan is to have 50+ aircraft in three years and 100+ in five years which also fits perfectly well with the short-term and long-term business plan of the consortium,” Jalan said. “It is the first time in the history of aviation that an airline grounded for more than two years is being revived and we are looking forward to being a part of this historic journey,” he added. Crippled by mounting losses, the airline, once India's biggest private carrier, was forced to ground all flights in April 2019, owing billions to lenders and leaving thousands without a job. However, a revival plan for Jet 2.0 got final approval from the National Company Law Tribunal (NCLT) earlier this year. As of now, the company is working closely with authorities and airport coordinators to finalise slot allocations among other things. For starting domestic operations early next year, the company will lease a fleet of narrow-body aircraft. “The process of reviving the grounded carrier is on track with the existing Air Operator Certificate (AOC) already under process for revalidation. The consortium is working closely with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking,” the consortium said. On the fresh hirings, acting Jet Airways CEO Sudhir Gaur said: “Jet Airways has already hired 150+ full-time employees on its payroll, and we are looking to onboard another 1,000+ employees FY 2021-22 across categories.” In its new avatar, Jet Airways will be headquartered in Delhi NCR with its senior management working from the Corporate Office at Gurgaon.
Defunct Jet Airways to be relaunched in 4-6 months’ time
The consortium, which won the bid to acquire India-based Jet Airways, expects to restart operations of the defunct airline in four to six months. Murari Lal Jalan of Jalan-Kalrock consortium said that they expect to restart operations of the defunct airline after receiving approval from India’s top bankruptcy court, National Company Law Tribunal (NCLT) for its resolution plan. The consortium, comprising Jalan, a low-profile UAE businessman, and Kalrock Capital, London-based investment fund, submitted an INR 10 billion plan to relaunch the debt-ridden airline in November 2020. Abu Dhabi’s Etihad Aviation Group holds 24% of Jet Airways which reportedly owes more than USD 3 billion to lenders, lessors, staff and other suppliers. On the required funding to restart the airline, Jalan said it was not a concern during the first stage or for maybe a year or two. “Everything is planned properly and we are going with the plan.” In the beginning, the consortium plans to start operations with 25 aircraft. Of this, 18-20 would be narrow body aircraft and 5-7 would be wide body aircraft, it said.
Jet Airways may relaunch in summer 2021
Jet Airways (India), the full-service airline which went bankrupt last year, could be back in the skies as early as the summer. Its new promoters, Murari Lal Jalan and Kalrock Capital, plan to start domestic and international flights with all the slots that were available to the airline before it stopped operations. The promoters contemplated starting a new airline but chose to stick with the Jet brand due its continuing value, connect with customers and important flight slots at various airports. As per the resolution plan, the airline intends to operate all of its historic domestic slots in India and restart international operations. If everything goes by plan, and the new consortium receives the National Company Law Tribunal’s and other regulatory approvals on time, the carrier will be back in the skies by the summer of 2021, according to a statement issued by the company. The new management has also approached some top executives of other airlines in a hiring bid. “The consortium’s vision is to regain lost ground, set new benchmarks for the airline industry with the tag of being the best corporate full-service airline operating on domestic and international routes. The Jet 2.0 hubs will remain Delhi, Mumbai and Bengaluru like before. The revival plan proposes to support tier-II and tier-III cities by creating sub-hubs in such cities,” the company added. On 18 October, lenders approved a resolution plan submitted by a consortium comprising UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline, which was forced to shut operations in April last year due to a severe fund crunch and heavy debt burden. “Jet has been a brand with a glorious history of over 25 years, and it is the vision of the consortium to put Jet Airways back in the skies at the earliest opportunity. We aim to re-energise the brand by infusing energy, warmth, and vibrancy into it while making it bigger and better,” said Manoj Narender Madnani, board member of the Jalan Kalrock consortium. “Over the years, the brand has created loyal customers and we wish to bring in freshness by adding value—an Indian brand with a global outlook, warm yet professional which symbolises the New India, Young India. With the revival of Jet Airways, it will restore the confidence among Jet customers to fly again and experience its world class facilities,” he added. Apart from passenger flights, the new management will also focus on cargo operations to try and improve revenue. The new management’s vision for Jet 2.0 includes a plan to increase cargo services to include dedicated freighter service, a market currently underserved by Indian carriers. (Source: Hindustan Times)
Jet 2.0 is here: Grounded Jet Airways gets new owners
Giving India’s oldest private carrier a new lease of life, a panel of creditors to Jet Airways has approved a resolution plan for the bankrupt airline. London-based Kalrock Capital and UAE businessman Murari Lal Jalan have now become the new owners of the carrier as its creditors approved the resolution plan submitted by this consortium. This brings a 16-month long process to recover dues to lenders closer to completion. Once the country's largest carrier by number of passengers, the airline went into bankruptcy in 2019 after it failed to repay mounting debt, reflective of the nation’s struggling aviation sector. Until then, the carrier operated a fleet of more than 120 planes serving dozens of domestic destinations and international hubs. Since then the airline and its lenders had been looking for suitors. Its financial and operational creditors were owed nearly INR 30,000 crore (USD 4.1 billion) after the operations were halted. The lenders approved the plan via e-voting, and the carrier’s resolution official will now seek to take the process forward in the bankruptcy court, the company said. (Source: ETTravelWorld)
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