The consortium led by Murari Lal Jalan and Kalrock Capital that has submitted a resolution plan for Jet Airways has said that it will reinstate Delhi, Mumbai, and Bengaluru hubs like before. The revival plan proposes to support Tier 2 and Tier 3 cities by creating sub-hubs in such cities, the consortium has said.
The consortium on Monday said that Jet Airways will revive as a full-service carrier. As per the resolution plan, Jet Airways intends to operate all of its erstwhile domestic slots in India and restart international operations.
In October, BusinessLine had reported quoting sources that the consortium planned to revive the airline by April 2021. Confirming the same, in a statement, the consortium said: “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.”
Given India’s position as a leading centre for global vaccine manufacture, cargo services have never been more required. It also plans to increase the cargo services in India along with freighter service, “a market currently under-served by any Indian carrier, it said.
Manoj Narender Madnani, Board Member of Jalan Kalrock Consortium said, that the Consortium had evaluated the option of starting a new airline but some of the inherent strengths of Jet Airways like the optimal flight slots, brand value and reputation for best-in-class inflight service and safety, giving Jet 2.0 an edge over others, were too tempting to resist. “The Consortium decided that it would be advantageous to re-energise and start Jet Airways on a clean slate with an established brand,” he explained.
Over the years, the brand has created loyal customers and we wish to bring in freshness by adding value – an Indian brand with a global outlook, warm yet professional which symbolizes the New India, Young India. With the revival of Jet Airways, it will restore the confidence among the Jet customers to fly again and experience its world-class facilities.”
Jet Airways is a well-known household aviation brand in India and the oldest private airline with an operating history spanning more than 25 years. The aviation sector was deeply hit by COVID-19, but that helped the sector as it underwent substantial correction and created that opportune time for the Consortium members to enter the sector. The Consortium’s biggest strength is human capital, and it is putting together the best of aviation professionals with global experience for running and managing the operations of Jet 2.0.
The Consortium now awaits NCLT and regulatory approvals, including reinstatement of slots and bilateral traffic rights by the Ministry of Civil Aviation and DGCA. Initial discussions with the Ministry have been extremely positive. The NCLT is set to hear the resolution plan on December 11.