Three years on, Jet Airways gets DGCA clearance to resume flight operations - Hindustan Times
close_game
close_game

Three years on, Jet Airways gets DGCA clearance to resume flight operations

By | Edited by Sohini Goswami, New Delhi
May 20, 2022 06:27 PM IST

Jet Airways has not flown since April 17, 2019, when Naresh Goyal owned it, when it ran into a huge debt that left 20,000 employees jobless.

The Directorate-General of Civil Aviation (DGCA) on Friday granted the air operator certificate to Jet Airways, paving the way for the airline to resume flight operations three years after it shut down after running into debt. The once-popular airline has not flown since April 17, 2019, when Naresh Goyal owned it.

Jet Airways Boeing 737 aircraft, VT-SXE, at Hyderabad for test flight on Thursday.(Twitter/@TheSanjivKapoor)
Jet Airways Boeing 737 aircraft, VT-SXE, at Hyderabad for test flight on Thursday.(Twitter/@TheSanjivKapoor)

Earlier this month, the Union home ministry granted security clearance to new promoters of Jet Airways, Jalan-Kalrock Consortium, clearing the road for its relaunch.

Hindustan Times - your fastest source for breaking news! Read now.

The airline had earlier conducted test flights to and from Hyderabad, with Boeing 737 aircraft. Jet Airways has reportedly already hired more than 200 people across major functions and has been awaiting the aviation regulator’s nod to resume operations.

The operations had halted after two decades when it failed to get funds to run operations, leaving as many as 20,000 workers jobless. It also had a strategic partnership with Etihad Airways. The airline initially started cancelling flights, cutting routes, grounding planes, and handing pink slips to employees due to the cash crunch. In June 2019, insolvency proceedings were initiated against the airline.

In June last year, the NCLT approved the insolvency resolution plan submitted by UK-based Kalrock Capital and UAE-based businessman Jalan. The consortium proposed to pay 1,183 crore to creditors over a period of five years from the proceeds of the sale of assets and cash flow.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On