Jet Airways is back!

After more than 2 years, Jet Airways is all set to resume its domestic operations in the first quarter of 2022. Its international flights will resume by the second half of next year, the company announced the news on Monday.

Murari Lal Jalan, the leader of the Jalan Kalrock Consortium, said that the grounded airlines will be revived soon with the existing Air Operator Certificate which is already under process for re-validation. “Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short-haul international operations by Q3/Q4 2022,” he said.

The official statement released by the consortium said that the body is working with all the relevant authorities and airport coordinators on airport infrastructure, slot allocation, and night parking.

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Reportedly, the Mumbai bench of the National Company Law Tribunal (NCLT) approved the revival plan in June 2020 which was submitted by the Kalrock Capital and Murari Lal Jalan consortium.

Important details released by Jalan Kalrock Consortium:

• The airline would have a fleet of more than 50 aircraft in 3 years and over 100 in 5 years. The aircraft would be selected based on competitive long-term leasing solutions.
• Jet Airways will be headquartered in Delhi NCR and its senior management will be working from the Corporate Office at Gurgaon.
• The hiring activities have been kick-started. The airline has already hired more than 150 full-time employees on its payroll and it will be bringing on board over 1000 employees FY 2021-22 across different categories. The hiring will be on merit to meet the operational requirements of the airline.

Jet Airways went bankrupt in 2019 and the airline suspended operations on April 17, 2019. The airline has been undergoing a resolution process under the Insolvency and Bankruptcy Code for more than 2 years.

As per the head of the Travel Agents Federation of India, Ajay Prakash, Jet Airways owes crores of rupees to travel agents. The money has not been refunded since the airline went bankrupt.

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