Airlines
DGCA renews airport operator certificate of Jet Airways
According to a formal statement released by the Jalan-Kalrock Consortium, the Directorate General of Civil Aviation (DGCA) renewed Jet Airways’ Airport Operator Certificate (AOC) on July 28. This is an important step in the airline’s resurrection process.
According to the statement, the renewal of AOC confirms the Indian aviation regulator’s belief in Jet Airways’ recovery. After an insolvency resolution procedure, JKC was revealed to be the successful bidder for the grounded Jet Airways. Nevertheless, the ownership transfer to JKC has not yet taken place due to ongoing disagreements between JKC and the airline’s financiers.
As the only airline to reopen under its original brand following a protracted period of grounding, Jet Airways has a special place in Indian aviation history.
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The resolution plan provided by the Jalan-Kalrock consortium was approved by the National Company Law Tribunal (NCLT) in 2021. Murari Lal Jalan, an Indian non-resident who lives in the UAE, will hold shares in Jet Airways in his individual capacity, and Florian Fritsch, who will hold shares through his investment holding firm, Kalrock Capital Partners Ltd, Cayman, make up the consortium.
The renewal of the AOC is a promising milestone in Jet Airways’ journey to reclaim its skies and regain its position in the Indian aviation market, despite previous financial troubles and ongoing difficulties.
