New Delhi: The Directorate-General of Civil Aviation (DGCA) on Friday, May 20, granted the air operator certificate to Jet Airways, allowing the grounded carrier to resume commercial flight operations after three years.
The airline had shut operations over three years ago after running into debt. The embattled airline has not flown since April 17, 2019, when it was owned by Naresh Goyal.
Earlier this month, the Union home ministry granted security clearance to new promoters of Jet Airways, Jalan-Kalrock Consortium, clearing the road for its relaunch .
The airline currently has a fleet of nine planes – five Boeing 777s and four Boeing 737s. The airline is looking to operate select flights starting July-September and slowly ramp up operations to ensure a smooth switch to long-haul routes, a senior airline executive reportedly said.
The airline had halted its operations after flying for two decades when it ran into debts and also failed to get more funds to stay alive, leaving as many as 20,000 workers jobless. It also had a strategic partnership with Etihad Airways.
The airline initially started cancelling flights, cutting routes, grounding planes, and handing pink slips to employees due to the cash crunch. In June 2019, insolvency proceedings were initiated against the airline.
In June last year, the NCLT approved the insolvency resolution plan submitted by UK-based Kalrock Capital and UAE-based businessman Jalan. The consortium proposed to pay ₹1,183 crore to creditors over a period of five years from the proceeds of the sale of assets and cash flow.