“Jet Airways 2.0” Plans To Resume Operations By Summer Next Year

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Grounded Jet Airways plans to restart operations as a full service carrier by the summer of 2021, its new owners have said. A consortium, led by the Dubai-based entrepreneur Murari Lal Jalan and Kalrock Capital, on Monday announced a revival plan for the ailing airline, which halted operations in April 2019 due to bankruptcy amid piles of debt. “The Jet 2.0 program is aimed at reviving the past glory of Jet Airways, with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes,” the consortium said in a statement.

  1. Once the country’s largest airline by market capitalisation, Jet Airways will operate all its historic domestic slots in the country and also resume international operations once it receives approvals from the regulators and the National Company Law Tribunal, a bankruptcy tribunal.
  2. “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,” the group said. 
  3. Jet Airways has almost 21,000 creditors seeking claims of Rs 44,000 crore, and has had most of its landing slots confiscated.
  4. The plan mentions the owners’ vision to “regain the lost ground” and set new benchmarks for the airline industry with the tag of being the best corporate full-service carrier operating on domestic and international routes.
  5. “The Jet 2.0 hubs will remain Delhi, Mumbai, and Bengaluru like before,” it added. 
  6. As part of the revival plan for Jet Airways, the airline will support Tier 2 and Tier 3 cities by creating sub-hubs, which are expected to boost the economy in these cities.
  7. The plan will help the carrier stand back on its feet fast, and support the overall vision of the government to promote aviation through Tier 2/Tier 3 cities.
  8. “Jet Airways has been a brand with a glorious history of over 25 years, and it is the vision of the consortium to put Jet Airways back in the skies at the earliest opportunity. We aim to re-energise the brand by infusing energy, warmth, and vibrancy into it while making it bigger and better,” said Manoj Narender Madnani, a board member of the airline’s new management.
  9. The revival plan for the ailing airline also eyes increased demand for freight services due to the coronavirus pandemic, which pushed the country’s economy into a record slump earlier this year and forced thousands of employers to trim their operations.
  10. “Given India’s position as a leading centre for global vaccine manufacture, cargo services have never been more required,” said the Jalan-Kalrock consortium, pointing out that the country’s freighter service market is currently under-served by any Indian airline. The Jet 2.0 plan includes an emphasis on increasing cargo services to include dedicated freighter service, a market currently under-served by any Indian carrier.