Grounded Jet Airways plans to restart operations as a full service carrier by the summer of 2021, its new owners have said. A consortium, led by the Dubai-based entrepreneur Murari Lal Jalan and Kalrock Capital, on Monday announced a revival plan for the ailing airline, which halted operations in April 2019 due to bankruptcy amid piles of debt. “The Jet 2.0 program is aimed at reviving the past glory of Jet Airways, with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes,” the consortium said in a statement.
Once the country’s largest airline by market capitalisation, Jet Airways will operate all its historic domestic slots in the country and also resume international operations once it receives approvals from the regulators and the National Company Law Tribunal, a bankruptcy tribunal.
“If everything goes as per plan and the Consortium receives the NCLT and regulatory approvals on time, Jet Airways would be back in the skies by the Summer of 2021,” the group said.
Jet Airways has almost 21,000 creditors seeking claims of Rs 44,000 crore, and has had most of its landing slots confiscated.
The plan mentions the owners’ vision to “regain the lost ground” and set new benchmarks for the airline industry with the tag of being the best corporate full-service carrier operating on domestic and international routes.
“The Jet 2.0 hubs will remain Delhi, Mumbai, and Bengaluru like before,” it added.