Jet Airways (India) Ltd is likely to resume operations from this summer, said its new promoters, Murari Lal Jalan and Kalrock Capital who is planning to start domestic and international flights with all the slots that were available to the airline before it stopped operations.
The promoters contemplated starting a new airline but chose to stick with the Jet brand due its continuing value, connect with customers and important flight slots at various airports.
As per the resolution plan, Jet Airways intends to operate all of its historic domestic slots in India and restart international operations. If everything goes by plan, and the new consortium receives the National Company Law Tribunal's and other regulatory approvals on time, Jet Airways will be back in the skies by the summer of 2021, according to a statement issued by the company.
The new management has also approached some top executives of other airlines in a hiring bid.
The company further stated, "The consortium's vision is to regain lost ground, set new benchmarks for the airline industry with the tag of being the best corporate full-service airline operating on domestic and international routes. The Jet 2.0 hubs will remain Delhi, Mumbai and Bengaluru like before. The revival plan proposes to support tier-II and tier-III cities by creating sub-hubs in such cities."
On October 18, lenders approved a resolution plan submitted by a consortium comprising UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan to revive and operate the airline, which was forced to shut operations in April last year due to a severe fund crunch and heavy debt burden.
Apart from passenger flights, the new management will also focus on cargo operations to try and improve revenue.
The new management's vision for Jet 2.0 includes a plan to increase cargo services to include dedicated freighter service, a market currently underserved by Indian carriers.
