Jet Airways all set to take off again next year

Jet Airways all set to take off again next year

The consortium led by UAE-based entrepreneur Murari Lal Jalan — which has won the bid to revive plan Jet Airways — said on Monday it expects to relaunch the grounded airline by the summer of 2021.

Jet Airways 2.0 will start operations with domestic and international flights almost two years after the cash-strapped full-service carrier stopped flying under a huge debt pile-up.

The consortium, which includes UK's Kalrock Capital, said in a statement that the airline would continue with “an energised” Jet Airways brand.

“As per the resolution plan, Jet Airways intends to operate all of its historic domestic slots in India and restart international operations. If everything goes as per plan and the consortium receives the to the National Company Law Tribunal (NCLT) and regulatory approvals on time, Jet Airways would be back in the skies by the Summer of 2021,” said the statement.

The resolution plan of the consortium was recently approved by Jet's committee of creditors. It still awaits approval from India's bankruptcy court NCLT. The resolution proceedings went on for more than a year before Jet found a new investor in the Jalan-Kalrock consortium.

Jet stopped operating in April