The Directorate-General of Civil Aviation (DGCA) on Friday granted the air operator certificates to Jet Airways, paving the way in which for the airline to resume flight operations three years after it shut down after operating into debt. The once-popular airline has not flown since April 17, 2019, when Naresh Goyal owned it.
Earlier this month, the Union residence ministry granted safety clearance to new promoters of Jet Airways, Jalan-Kalrock Consortium, clearing the street for its relaunch.
The airline had earlier performed take a look at flights to and from Hyderabad, with Boeing 737 plane. Jet Airways has reportedly already employed greater than 200 folks throughout main features and has been awaiting the aviation regulator’s nod to resume operations.
The operations had halted after 20 years when it failed to get funds to run operations, leaving as many as 20,000 staff jobless. It additionally had a strategic partnership with Etihad Airways. The airline initially began cancelling flights, reducing routes, grounding planes, and handing pink slips to staff due to the money crunch. In June 2019, insolvency proceedings had been initiated in opposition to the airline.
In June final year, the NCLT accepted the insolvency decision plan submitted by UK-based Kalrock Capital and UAE-based businessman Jalan. The consortium proposed to pay ₹1,183 crore to collectors over a interval of 5 years from the proceeds of the sale of belongings and money move.