Aviation regulator Directorate General of Civil Aviation (DGCA) on Monday renews air operator certificate of Jet Airways, says winning bidder Jalan-Kalrock Consortium. This move will help the grounded passenger carrier to revive its services in India and revalidate the confidence of the Indian aviation regulator in the revival of Jet Airways.
The Jalan-Kalrock Consortium in a statement said, "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."
Cash-strapped Jet Airways stopped flying from April 17, 2019. The Air Operator Certificate (AOC) was re-issued on May 20, 2022. However, since the airline did not start operations, AOC expired on May 19, 2023.
In a statement, the Jalan-Kalrock Consortium (JKC) said it has "successfully obtained renewal for AOC of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28, 2023".
JKC wins bidding for Jet Airways
JKC emerged as the winning bidder for the grounded Jet Airways after an insolvency resolution process. However, the ownership transfer to JKC is yet to happen amid persisting differences between JKC and the lenders of the airline.
According to the statement, JKC 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 coming weeks," it added.
Jet Airways shares
In early morning trade, shares of Jet Airways jumped nearly 5 per cent to Rs 50.80 on BSE.
With inputs from Agencies.
