Jet Airways will be able to take to the skies again, after aviation regulator DGCA gave it a re-certified Air Operator Certificate (AOC) on Friday, allowing the airline to resume commercial flight operations.
Arun Kumar, head of the Directorate General of Civil Aviation (DGCA), told PTI that the AOC was given to the airline, which saw turbulent times three years ago before it landed.
In the old incarnation, the airline was owned by Naresh Goyal and operated the last flight on April 17, 2019 due to financial difficulties. The Jalan-Kalrak Consortium is currently the promoter of Jet Airways.
The airline plans to resume commercial flights in the July-September quarter.
With DGCA officials on board, the airline successfully operated five proof flights on May 15 and 17. Proven flights are the last step before an airline receives an AOC.
In a statement, Jet Airways said with the receipt of the AOC, the Jalan-Kalrak consortium has met all the conditions under the resolution plan approved by the National Company Law Tribunal (NCLT).
“Aircraft and fleet plans, networks, product and customer pricing offers, loyalty programs, and other details will be unveiled in phases in the coming weeks,” it noted.
Additional senior management appointments will be unveiled next week, and recruitment for the operational role will now also begin earnestly, where former Jet Airways employees will be given priority wherever possible, it said.
“Today marks a new dawn not only for Jet Airways, but also for the Indian aviation industry,” said Murari Lal Jalan, chief member of the Jalan-Kalrak consortium. “We are committed to making Indian aviation and Indian business a tremendous success story,” he added.
The financial crisis forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders led by State Bank of India (SBI) filed for bankruptcy in June 2019 to recover the arrears. 8,000 crore.
In October 2020, the Airlines Committee of Creditors (CoC) approved the resolution plan submitted by a consortium of UK-based entrepreneur Murari Lal Jalan and Clark Capital of the United Kingdom.
In June 2021, the resolution plan was approved by the NCLT.