Jet Airways receives authorization to resume commercial flights
Jet Airways received the go-ahead from Indian authorities Friday to resume commercial flights, after ceasing operations in 2019 when it was unable to refinance its debt and declared insolvent.
“Jet Airways today received its renewed air operator’s certificate from the Indian General Civil Aviation Council (DGCA), Ministry of Civil Aviation,” the carrier said in a statement, which will allow it to “resume its scheduled commercial operations in India.”
The go-ahead from Indian authorities comes after Jet Airways “successfully” carried out a series of test flights this week.
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The airline said it intends to resume commercial operations between July and September this year, a return “with new funding, a change in ownership and new management.”
Once one of India’s oldest and largest airlines suspended flights in April 2019 when a consortium of lenders led by State Bank of India (SBI) refused to accept its application for funding, EFE reported.
Jet Airways’ debt amounted to more than 80 billion rupees (€1.026 billion) when it became insolvent, having been suffocated by a lack of liquidity and mounting debts to its suppliers.
The airline was owned by its chairman and founder, Naresh Goyal, until he was sacked in 2019 as part of a rescue plan that ultimately failed to materialize.
Jet Airways was acquired in 2020 by a consortium formed by Emirati businessman Murari Jalan and British firm Kalrock Capital.
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