In an encouraging turn of events for the grounded Jet Airways, the Directorate General of Civil Aviation (DGCA) has renewed its Air Operator Certificate (AOC) on July 28, 2023, as reported by the Jalan-Kalrock Consortium, the resolution applicant of Jet Airways.
The consortium expressed gratitude to the aviation regulator, India’s Ministry of Civil Aviation, and all other stakeholders for their continued faith and commitment to Jet Airways’ revival.
Despite this, the Jalan Kalrock Consortium is facing hindrances from the Committee of Creditors (CoC) in launching their operations, even after procuring all the necessary permissions from the government. The consortium received the AOC for a one-year period beginning 2022-23 but has been unable to initiate operations due to the CoC’s objections at various stages of ownership transfer.
Krishnendu Dutta, Senior Advocate of the consortium, warned of the potential loss of acquired slots if the airline doesn’t begin operations soon. In the midst of this tussle, Jalan-Kalrock finds itself uncertain due to ongoing litigations lodged by DGCA across multiple forums.
The CoC’s contradicting positions in different forums have further complicated matters. Jalan Kalrock is now urging the National Company Law Appellate Tribunal (NCLAT) to settle the ownership dispute decisively.
Despite these challenges, the consortium remains committed to resuming operations and restoring Jet Airways to its former glory as India’s most admired airline.
