New promoters plan to restart Jet Airways with 25 aircraft in the first year


(Photo: PUNIT PARANJPE/AFP/Getty Images).
(Photo: PUNIT PARANJPE/AFP/Getty Images).

THE new promoters of Jet Airways plans to connect regional cities to international destinations, and are exploring the possibility of starting the airline with 25 aircraft in the first year.

The UAE-based entrepreneur Murari Lal Jalan along with Kalrock Capital had emerged as the winning bidder for acquiring the Jet Airways under a debt resolution process.

The bid has been approved by Jet’s bankers and is awaiting final approvals from the National Company Law Tribunal (NCLT) and the Indian government.

“We plan to start international routes within the first year itself. Our vision is to connect regional cities to 5-6 international destinations. It could include Dubai, Thailand, and Singapore. We see potential in small places like Patna, Bhubaneswar, Lucknow etc for short-haul outbound air travel, and we wish to tap that,” Jalan told The Hindu BusinessLine.

“Our plan is to restart the airline within four months of the NCLT approving our plan. We want to keep the legacy and glory of Jet Airways, and thus, it will be a full-service carrier.”

Instead of Mumbai, the airline’s hub will be Delhi /NCR, he added.

The new promoters had initially said that they planned to restart the airline’s operation by April 2021, but the proceedings at NCLT has been delayed.

According to reports, there is no clarity regarding Jet Airways’ slots. The insolvency court had sent the notice to the directorate general of civil aviation (DGCA) and ministry of civil aviation (MOCA) seeking clarity over Jet Airways’ slots.

Jalan said that the central authorities have assured him that Jet Airways’ slots will be returned to them.

At its peak, Jet Airways had close to 20,000 contract and permanent employees.

According to The Hindu BusinessLine, the employee unions have now filed multiple petitions requesting details of the resolution plan in order to make sure that their interests have been considered.

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