The winning bidder of bankrupt Jet Airways, Jalan-Kalrock Consortium (JKC) said that the aviation regulator Directorate General of Civil Aviation (DGCA) has renewed the fallen airline’s operator certificate.
The airline which once flew high up in the clouds, stopped flying from April 17, 2022. An Air Operator Certificate (AOC) was reissued for it in May 2022, but since Jet Airways did not start operations, the AOC expired on May 19, 2023.
What did the winning bidder say?
The JKC said it has “successfully obtained renewal for AOC of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28, 2023″. It added that the renewal of the AOC revalidates the confidence the DGCA has in the airline’s revival.
JKC was the winning bidder for the grounded airline after an insolvency resolution process. However, amid differences between JKC and the airlines’ lender, the transfer of ownership has not happened yet.
The firm said it is entirely dedicated to the airline’s revival and is committed to the implementation of a comprehensive strategy to ensure the airline’s success.
.”JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in coming weeks,” it added.
After the news of the certificate broke, Jet Airways’ shares jumped 5% to Rs 50.80 on BSE.
Jatinderpal Singh Dhillonwas appointed as the airline’s accountable manager last week. Earlier this month, two whole time directors and a non-executive director were appointed at Jet Airways.
(With PTI inputs)