Mint Explainer: Jet Airways revival remains a distant dream

livemint.com:

More than two years after the Jalan-Kalrock consortium’s bid to revive India’s erstwhile full-service carrier Jet Airways was approved by the National Company Law Tribunal, the implementation of the revival plan remains a distant dream. Mint explains the issue. The Jalan-Kalrock consortium said on 31 July that the civil-aviation regulator, the Directorate General of Civil Aviation, renewed the air operator certificate of Jet Airways on 28 July.

The regulator had granted the airline an air-operator permit on 20 May, 2022 and the airline planned to launch flights by October 2022. However, the launch is still awaited, and the air operator certificate expired on 19 May, 2023. Until April, the airline was led by chief-executive-designate Sanjiv Kapoor, who has now moved on to Saudia airlines in an advisory role.

While Jet is yet to find a replacement for Kapoor, it recently announced the appointment of Capt Jatinderpal Singh Dhillon as the accountable manager for Jet Airways effective July 2023. Captain Dhillon has experience across diverse organisations such as the Government Aviation Training Institute (GATI), SpiceJet, Royal Airways, Jet Airways, Oman Air and Nepal’s Himalaya Airlines. In the latest legal development, the National Company Appellate Tribunal (NCLAT) on Friday deferred until 7 August its hearing of a plea filed by Jet Airways's lenders, led by State Bank of India, seeking to recover pending dues from the Jalan-Kalrock consortium.