The Indian grounded airline Jet Airways plans to fly again by the end of 2021 as the Kalrock-Jalan association, which owns the company, received clearance from the bankruptcy court National Companies Law Tribunal (NCLT) for its steadfastness plan on Tuesday (June 22) and the tribunal has given 90 days to the Directorate General of Civil Aviation (DGCA) and the ministry of civil aviation to allot slots.
The consortium led by UAE-based businessman Murari Lal Jalan and the London-based Kalrock Capital, had publicized the revival of the airline as a full-service carrier in December 2020. The consortium also plans to include enthusiastic freighter service to increase cargo services. An air cargo industry specialist noted that the very important slots of Delhi and Mumbai might not be in offer for Jet Airways though it is going to take some time before Jet flies again.
Grant Thornton Advisory is overseeing the restoration of the airline on the behalf of this consortium. The airline was stranded in April 2019 due to rising losses while its unpaid dues are around ₹8,500 crore.
The consortium plans to start with 20 narrow-bodied and five wide-bodied aircraft. However, the Indian government has already declared its unwillingness to hand over the Jet Airways airport slots to the new entity. Jet Airways had about 700 time slots that allowed it to land /depart from congested airports like Mumbai, Delhi.