Friday, Mar 29 2024 | Time 01:02 Hrs(IST)
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Business Economy


Jet Airways 2.0 moves a step closer to resume operation

New Delhi, May 17 (UNI) Jet Airways has moved a step closer to restart its operations.
The airline which fell into bankruptcy in 2019 has successfully conducted proving flights, a pre-qualification to get air operator certificate (AOC) from aviation regulator.
“We have successfully conducted our proving flights over two days, and we now look forward to the grant of the AOC by the DGCA,” said Jalan-Kalrock Consortium, the new owner of the airline, on Tuesday.
The airline is planning to restart domestic flights in the July-September quarter of the current financial year.
An official in Directorate General of Civil Aviation (DGCA) said that Jet's AOC could be re-validated within a week.
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.
UNI NK
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