Jet Airways Likely to Resume Operations Under New Owner

Picture Courtesy: Business Today

According to the National Company Law Tribunal (NCLT), Jet Airways can resume operations under a new owner.

This was announced on Tuesday by NCLT. It’s been more than two years since the Jet Airways stopped operations.

As per reports, Jet Airways suspended their operations in April 2019, due to financial distress and has been undergoing a resolution process under the Insolvency and Bankruptcy Code (IBC) since then.

“They have to work together with the ministry officials and airports to obtain the slots. In some airports it may not be possible to operate the exact same slots,” Ashish Chhawchharia, the court-appointed professional running the carrier’s insolvency, said in one of his statements on Tuesday.

Chhawchharia further added, “If everything goes well, we can hope by end of this year Jet Airways can fly again.”

Reports also said that the revival plan of Jet Airways also included a dedicated freighter service and hubs in smaller cities beyond Delhi, Mumbai and Bengaluru.

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