Once Bankrupt, Jet Airways Plans to Resume Operations in 2021
The promoters said the “Jet 2.0 programme is aimed at reviving the past glory of Jet Airways”
Jet Airways Ltd, one of India’s largest airlines, is likely to resume flying by summer of next year, between April-May 2021. Recovering from its bankruptcy and collapse in 2019, the airline’s new Dubai-based promoters, Murari Lal Jalan and Kalrock Capital, plan to start domestic and international operations as a full service carrier including a dedicated freighter service and hubs in tier 2 and tier 3 Indian cities.
Jet 2.0 hubs will remain in Delhi, Mumbai and Bengaluru like before, the promoters said in a statement, reported Bloomberg Quint.
Jet 2.0 to Revive ‘Past Glory Of Airline’: Jet Airways
On Monday, 7 December, the consortium released a statement saying they are seeking approval from Indian regulators and a bankruptcy tribunal to restart domestic and international operations. The promoters said the “Jet 2.0 programme 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, reported The Indian Express.
“The revival plan proposes to support Tier 2 and Tier 3 cities by creating sub-hubs in such cities. This would boost the economy in these cities, help Jet Airways stand back on its feet fast, and support the overall vision of the government to promote aviation business through Tier 2 and Tier 3 cities in India,” said the statement by the new promoters reported The Indian Express.
According to a statement from the new promoters, the consortium’s vision is “to regain the 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,” reported The Indian Express.
The consortium had evaluated the possibility of starting a new airline but Jet Airways’ optimal flight slots, brand value and reputation for in-flight service and safety will give the carrier “an edge over others,” according to the statement, according to Bloomberg Quint.
On 17 April 2019, Jet Airways, which used to be India’s largest carrier for passengers, went into bankruptcy after failing to pay mounting debt. It shut down as it ran out of cash to pay over 21,000 creditors seeking claims of $6 billion, reported Bloomberg Quint.
(With inputs from Indian Express and Bloomberg Quint)
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