Civil aviation regulator, the Directorate General of Civil Aviation (DGCA) on Friday granted the air operator certificate (AOC) to Jet Airways, bringing the grounded airline yet another step closer towards relaunching of its services.
The Naresh Goyal-founded airline operated its first commercial flight in May 1993 but had ceased operations in early 2019 due to some financial difficulties. Before this, Jet Airways flew to over 65 destinations in India and across the world with 124 narrow-body and wide-body aircraft.
Subsequently, Jet Airways underwent the corporate insolvency resolution process under the Indian Insolvency and Bankruptcy Code and as per orders of the National Company Law Tribunal's Mumbai Bench.
The resolution plan for Jet Airways submitted by the Jalan Kalrock Consortium was approved.
Earlier this month, the airline had conducted test flights to ensure its aircraft's safety.
With the receipt of the air operator certificate, the Jalan Kalrock Consortium has fulfilled all the conditions precedent under their NCLT-approved Resolution Plan. The process concluded with the airline having successfully conducted a number of proving flights between May 15 and May 17, with key DGCA officials on board.
The revalidation of AOC enables Jet Airways to resume its scheduled commercial operations in India.
This significant milestone also paves way for the comeback of the iconic airline in a new avatar with fresh funding, changed ownership, and new management.
"We will not only live up to the great expectations from brand Jet Airways, but also exceed them in many ways for today's discerning flyers. We are committed to making this an extraordinary success story in Indian aviation and in Indian business," said Murari Lal Jalan, Lead Member of Jalan-Kalrock Consortium.
Jet Airways intends to recommence commercial operations in the next quarter of this year (July-September 2022).
Aircraft and fleet plan, network, product and customer value proposition, loyalty programme, and other details will be unveiled in a phased manner over the coming weeks. Additional senior management appointments will be unveiled next week, and hiring for operational roles will also now commence in earnest, with former Jet Airways staff getting preference, wherever possible.
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