Jet Airways: Uncertainty deepens as Air Operator’s Certificate expires

[ad_1]

Image Source : PTI Jet Airways’ future is in dark

The future of the grounded Jet Airways is still hanging in the air as the validity of the airline’s air operator’s certificate expires on Friday (April 19). The Air Operator’s Certificate (AOC) of the airline was revalidated on May 20 last year for a one-year period and the validity ended on Friday. The flights of the airlines have not flown since April 18, 2019.

There was no word from the Jalan Kalrock Consortium (JKC), which emerged as the winning bidder for the carrier under the insolvency resolution proceedings, on the status of the airline’s flying permit.

However, it could not be immediately ascertained whether the consortium has sought any relaxation from aviation regulator DGCA with respect to the AOC, which is the most crucial requirement for operating an airline.

A query sent to Ankit Jalan, a board member of the JKC, on whether the consortium has sought renewal of the AOC remained unanswered. The ownership transfer of Jet Airways to the JKC is yet to happen amid continuing differences with the lenders of the airline.

Debt-ridden Jet Airways, which flew for 25 years, shuttered operations on April 18, 2019. The insolvency resolution process of the carrier began in June 2019 and the National Company Law Tribunal (NCLT) approved a resolution plan submitted by the JKC in June 2021.

Last week, the Consortium reportedly approached the NCLT asking it to grant more time to pay the creditors and implement the revival plan. 

Also read- From chip rumour to withdrawal of Rs 2,000 – A look back to incidents related to demonetisation

Latest Business News

[ad_2]

Source link