India’s Jet Airways will resume domestic operations by the first quarter of 2022, an investor consortium, whose resolution plan was approved by India’s bankruptcy court earlier this year, said on Monday.
Once India’s biggest private carrier, Jet stopped flying in April 2019 after running out of cash, owing billions to lenders and leaving thousands without jobs, Reuters reported.
The defunct airline had said in June that the National Company Law Tribunal (NCLT) approved a resolution plan submitted by a consortium of London-based Kalrock Capital and UAE-based businessman Murari Lal Jalan.
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The bankruptcy court’s go-ahead came several months after Jet’s creditors had given their approval in October last year to the resolution plan submitted by the consortium.
“Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short haul international operations by Q3/Q4 2022,” Murari Lal Jalan, Lead Member of the Jalan Kalrock Consortium and the proposed Non-Executive Chairman of Jet Airways said.
Jet Airways said it has already hired over 150 full-time employees and is looking to onboard another 1,000 employees in FY 2021-22 across categories.
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