Grounded Jet Airways plans to resume operations by 2021 summer

Revival plan of a consortium comes almost two years after the airline was grounded due to debts

Jet Airways
Jet Airways stopped its operations in April 2019 due to bankruptcy and debt | File Photo

Almost two years after it was grounded, Jet Airways is planning to restart its operations as a full service carrier by 2021 summer, its new owners have said.

A consortium, led by the Dubai-based entrepreneur Murari Lal Jalan and London-based Kalrock Capital on Monday announced a revival plan for the ailing airline, which stopped its operations in April 2019 due to bankruptcy and debt. The airways had a fleet of more than 120 planes, serving dozens of domestic destinations and international hubs such as Singapore, London and Dubai.

Also read: Jet Airways deal historic and path-breaking for airline industry

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“The Jet 2.0 program 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,” the consortium said in a statement.

The new promoters have also decided to stick with the Jet brand due to its value and existing flight slots. The statement by the new promoters said that Jet Airways will “operate all of its historic domestic slots in India and restart international operations”.

“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 statement said.

Also read: Lenders, flawed policies, low-cost airlines: Reasons that failed Jet Airways

Besides passenger flights, the new promoters said in their statement that the airline will also focus on cargo operations in a bid to increase revenue.

Jet Airways’ lenders approved a resolution plan submitted by a consortium comprising UK-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan on October 18.

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