Airlines
Can Dubai investor-backed Jet Airways finally take-off, meet new relaunch deadline?
After several aborted takeoffs in its much-heralded relaunch efforts, the grounded #JetAirways
After several aborted takeoffs in its much-heralded relaunch efforts, the grounded Jet Airways, which until three years ago was a significant player in the India-Gulf sector, says it is ready to begin operations within weeks amid reports that its new management has been successful in resolving significant issues with former lenders and aircraft engine makers.
The airline, which is being revived by businessman Murari Lal Jalan of Dubai and Florian Fritsch, chairman of Kalrock Capital Management Ltd, has reportedly chosen five aircraft to start operations after securing favorable terms from engine manufacturers in its proposed aircraft leasing contracts.
Three A320Neo and two B737-8 MAX aircraft have been identified, which the airline aims to use during the initial domestic phase of its relaunch.
According to Kapoor, starting or restarting an airline requires careful planning. “We want to make sure we take the time to get the best terms and contracts for both aircraft and engines, including maintenance contracts, as well as to receive aircraft configured the way we want them to meet our strategic requirements and to secure our future,” Kapoor was quoted in Indian media as saying.
For both Airbus and Boeing aircraft, the airline is currently employing pilots and cabin crew. The airline added, “We are extremely near to finalizing our initial fleet plan in preparation for launching for sale soon and resume of operations in the coming weeks,” in a statement to the media on September 27.
Malaysia’s newest budget airline ready to take off(Opens in a new browser tab)
Aviation experts have argued that the ownership consortium must set a timetable for working with the lenders to complete the debt resolution plan before deciding whether to purchase or lease aircraft. It’s unclear at this time whether the group of lenders that sent Jet Airways to bankruptcy court has given the new owners the go-ahead to lease or purchase aircraft. Before the Jalan-Kalrock consortium’s debt resolution plan was authorized, the airline’s bankruptcy lawsuit before the National Company Law Tribunal (NCLT) dragged on for two years following its 2019 grounding.
