Jet Airways, which has been out of service for several years, is set to take to the skies once again.
The aviation regulator has granted the necessary permit to the company, raising hopes that Jet Airways flights will soon be operational.
Jalan-Kalrock Consortium Informs about Permit
The successful bidder for the bankrupt airline, Jet Airways, the Jalan-Kalrock Consortium, announced on Monday that it has obtained the permit.
The Directorate General of Civil Aviation (DGCA) has reissued the air operator permit.
Previous permits had expired as the company could not resume operations despite receiving permits earlier.
Flight Closure for 4 Years
Jet Airways suspended its flights on April 17, 2019, due to a severe financial crisis.
The airline then underwent insolvency proceedings, with the Jalan-Kalrock Consortium winning the bid.
DGCA issued the Air Operator Certificate (AOC) to Jet Airways twice last year after the bidding process concluded.
The most recent AOC was issued on May 20, 2022, but operations did not resume, and the approval expired on May 19, 2023.
Plans to Resume Flying Soon
The Jalan-Kalrock Consortium stated that it received the AOC for Jet Airways from DGCA on July 28, 2023.
This development clears the path for the resumption of Jet Airways flights.
The consortium is actively preparing to restart Jet Airways flights and is working closely with all relevant authorities.
Share Prices Soar
Following this news, the shares of Jet Airways experienced an immediate surge.
During the afternoon, the company’s shares strengthened by approximately 5 percent on the BSE, reaching over Rs 51.
Currently, the stock is trading at less than half of its 52-week high, which was Rs 106.35.
