Jet Airways has been grounded since April 2019.
India’s Jet Airways has confirmed that its air operator certificate (AOC) has been reinstated by aviation officials, and the carrier’s backers stress they are still committed to a relaunch.
The Directorate General of Civil Aviation (DGCA) granted the AOC on July 28, according to a statement on social media from the airline’s owner, the Jalan-Kalrock consortium. The consortium said it remains “fully dedicated to the revival of Jet Airways.”
Jalan-Kalrock said it “will continue to work closely with all relevant authorities, industry partners and stakeholders in reviving Jet Airways in coming weeks.”
This vote of confidence by regulators and the owner is significant because the relaunch has struck multiple hurdles over the past year.
Jet Airways was previously one of India’s major carriers, but it suspended operations in April 2019 when it was unable to meet its financial obligations. Creditors selected Jalan-Kalrock to take over and resurrect the carrier in October 2020. A court then approved the revival plan in June 2021.
However, the relaunch has taken much longer than anticipated. There have been significant disputes between the new owners and creditors about the terms of the takeover agreement, as well as the repayment of various obligations.
The DGCA had granted Jet Airways a new AOC after the takeover. But the AOC expired in May before the airline could resume operations. The carrier then had to reapply for an AOC.
The CEO-designate appointed to run Jet Airways, Sanjiv Kapoor, stepped down on May 1 after a year in the role.
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