At Wednesday’s hearing of the National Company Law Tribunal (NCLT) on the Jet Airways revival matter, the government assured that the airline will have to reapply for flying slots after the resolution plan gets approved by the insolvency tribunal.
The airline which ceased operations in March 2019 had 700 pair slots back then.
Counsel Shyam Mehta representing Ministry of Civil Aviation and DGCA however didn’t comment on whether Jet Airways will receive the slots that it once enjoyed but said once the new owner, the Kalrock-Jalan consortium, applies for the new slots at the appropriate time, the government will consider the same.
The Union Ministry of Civil Aviation (MoCA) also did not submit its affidavit with its say on the slots. Officials indicated that it was expected to submit its views soon. The next hearing is scheduled for March 9.
During the previous hearing of the resolution plan submitted by the consortium of London-based asset management firm Kalrock Capital and entrepreneur Murari Lal Jalan, DGCA sought more time to reply to the notice issued in January for the air slots. The two-judge bench of Mohammed Ajmal and V Nallasenapathy granted the request allowing time till March 2. The aviation safety regulator will now file its affidavit by March 8.
In September 2020, DGCA and the Ministry of Civil Aviation had said the slots were temporarily allotted to other airlines.
A consortium, led by the Dubai-based entrepreneur Murari Lal Jalan as well as London-based Kalrock Capital on December 7, announced a revival plan for the airline.
“The Jet 2.0 program is aimed at reviving the past glory of the airline, with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes,” the consortium said in a statement. Operations halted in April 2019 due to bankruptcy amid a weight of heavy debt.
Jet Plans to Operate Historic Slots
In the past, the airline said it plans to operate all its historic domestic slots across the country and also resume international flight operations once it receives approvals from the regulators and the National Company Law Tribunal.