Beleaguered-airline Jet Airways may resume flight operations in coming months. According to a news report, a plan will be soon presented for approval from the National Company Law Tribunal (NCLT).
CNBC-TV18 reported that clarity on Jet Airways slots is likely to emerge with the NCLT order. In addition, the airline has indicated to the court and the regulator that “it is open to alternate slots with a margin of 15 minutes plus or minus on an average if the requirement for a slot cannot be met on account of non-availability”.
The bankruptcy court concluded Jet Airways’ resolution plan hearings submitted by a consortium of Kalrock Capital and Murari Lal Jalan that emerged as the winning bidder for Jet Airways.
In addition, the government also wants to revive Jet Airways, stated a source. The airline is also getting its fleet plan in place as it aims to reinstate its position as a full-service carrier.
Jet Airways has 11 aircraft, which are owned by the airline. However, these have been grounded for over two years now. It consists of B777, B737 and A330s.
The airline may replace its existing fleet with new fuel-efficient aircraft which it plans to take on lease. These new airlines will be a combination of Airbus and Boeing make.
As soon as the NCLT order is approved, the airline's current plan is to resume flights within six months.
Recently, the airline was in news after its shareholders rejected approval for its audited standalone financial statements for the financial years ended March 31, 2019 as well as March 31, 2020, according to regulatory filings. The proposal to appoint Sharp and Tannan Associates, Chartered Accountants as statutory auditors has been cleared by the shareholders.
Jet Airways was unable to prepare its financial results on time as directors, CEO, CFO and various other top management personnel had resigned before the resolution process began in June 2019.
