DGCA renews airport operator certificate of Jet Airways

The Directorate General of Civil Aviation (DGCA) renewed the air operator certificate (AOC) of Jet Airways on July 28 this year, said Jalan-Kalrock Consortium in an official statement. With this, the civil aviation regulator has reinforced its commitment to revive India's most admired airline. 

“JKC expresses its heartfelt gratitude to the aviation regulator, the Ministry of Civil Aviation, and all other stakeholders, in showcasing their faith in JKC and in the revival of Jet Airways," the consortium said. 

“The Jalan and Kalrock Consortium remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline's success. JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in the coming weeks,” the statement read. 

Currently, Jet Airways is being revived under the Insolvency and Bankruptcy Code as per the National Company Law Tribunal (NCLT) approved resolution plan of Jalan Kalrock Consortium, the company said. 

In January, NCLT allowed the transfer of ownership of Jet Airways to the Jalan Kalrock consortium.

Notably, Jet Airways is the first airline in Indian aviation history that is being revived under its name after being grounded for an extended period.

In 2021, the NCLT had approved the resolution plan submitted by the Jalan-Kalrock consortium. The consortium comprises UAE-based non-resident Indian Murari Lal Jalan, who will hold shares in Jet Airways in his personal capacity, and Florian Fritsch who will hold shares through his investment holding company Kalrock Capital Partners Ltd, Cayman.

Jet Airways stopped flying in April 2019 after running into financial difficulties. However, ownership transfer has been hanging fire amid continuing differences between the lenders and the consortium.