Civil aviation regulator Directorate General of Civil Aviation (DGCA) on Friday granted the air operator certificate to Jet Airways, paving the way for the airline to resume commercial flight operations.
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.
The Union Home Ministry granted security clearance to new promoters of Jet Airways, Jalan-Kalrock Consortium earlier this month.
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.
Three years back, when it hit rough weather, Jet Airways initially started cancelling flights, dropping routes from its schedule, and handing pink slips to employees due to the cash crunch. In June 2019, insolvency proceedings were initiated against the airline.
Last year in June, the National Company Law Tribunal (NCLT) approved the insolvency resolution plan submitted by UK-based Kalrock Capital and UAE-based businessman Murari Jalan. The Kalrock-Jalan consortium proposed to pay Rs 1,183 crore to lenders over a period of five years.
