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Business EconomyPosted at: May 20 2022 6:39PM


Jet 2.0 gets AOC, plans to re-start ops in July-Sept quarter

New Delhi, May 20 (UNI) Days after operating its proving flights, Jet Airways on Friday received its revalidated Air Operator Certificate (AOC) from aviation regulator Directorate General of Civil Aviation (DGCA).
The airline which shut down in 2019 and went through corporate insolvency resolution process (CIRP) plans to resume operations in July-September quarter of the current fiscal.
"With the receipt of AOC, the Jalan Kalrock Consortium has fulfilled all the conditions precedent under their NCLT approved Resolution Plan. The revalidation of AOC enables Jet Airways to resume its scheduled commercial operations in India," the company said in a statement.
The company said that grant of the AOC is the final step in a comprehensive regulatory and compliance process involving several procedural checks for the airline’s operational readiness.
"The process concluded with the airline having successfully conducted a number of proving flights between 15 May 2022 and 17 May 2022, with key DGCA officials on board. The grant of the AOC revalidates the confidence of the DGCA in the operational preparedness of Jet Airways," it said.
Jet Airways shut down its operations in 2019 as its promoters could not infuse cash into the company. Banks refused to lend any further considering the precarious financial health of the carrier.
Following this, resolution process started under Insolvency and Bankruptcy Code (IBC) and Jalan-Kalrock Consortium emerged as the successful applicant.
Murari Lal Jalan, Lead Member of Jalan-Kalrock Consortium said, “Today marks a new dawn for not just Jet Airways, but also for the Indian aviation industry. We are now at the brink of creating history by bringing India’s most-loved airline back to the skies. 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."
UNI NK
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Tags: #Jet 2.0 gets AOC# plans to re-start ops in July-Sept quarter
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