Jet Airways to restart domestic operations in Q1 2022, begins hiring process
The airline, which was grounded in April 2019, will resume operations after nearly three years with a New Delhi to Mumbai flight.
Jet Airways is expected to resume operations from the first quarter of 2022. The airline, which operated a fleet of more than 120 planes serving dozens of domestic destinations and international hubs such as Singapore, London and Dubai, said it has already hired over 150 full-time employees and is looking to onboard another 1,000 employees in FY 2021-22 across categories. Jet Airways 2.0 will have its headquarters in Delhi and not Mumbai.
The defunct airline had said in June that the National Company Law Tribunal (NCLT) approved a resolution plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan.
“Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short haul international operations by Q3/Q4 2022,” Murari Lal Jalan, Lead Member of the Jalan Kalrock Consortium and the proposed Non-Executive Chairman of Jet Airways said.
The bankruptcy court’s go-ahead came several months after Jet’s creditors had given their approval in October last year to the resolution plan submitted by the consortium.
In an official statement, the consortium said that the process of reviving the grounded carrier is on track with the existing Air Operator Certificate (AOC) already under process for revalidation.
It further said that the consortium is working closely with the relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking.
The Kalrock-Jalan resolution plan had been approved by the NCLT on June 22. The Mumbai bench of the NCLT had given the Directorate General of Civil Aviation and the Ministry of Civil Aviation 90 days from June 22 to allot slots to Jet Airways. The stock was trading at Rs 83.50, up Rs 3.95, or 4.97 percent. It has touched an intraday high of Rs 83.50 and an intraday low of Rs 78.60. There were pending buy orders of 154,037 shares, with no sellers available.
