India News | DGCA Renews Jet Airways' Air Operator Certificate, Says Jalan Kalrock Consortium
Get latest articles and stories on India at LatestLY. Jalan-Kalrock Consortium, the winning bidder for bankrupt Jet Airways, on Monday said aviation regulator DGCA has renewed the airline's air operator certificate.
New Delhi, Jul 31 (PTI) Jalan-Kalrock Consortium, the winning bidder for bankrupt Jet Airways, on Monday said aviation regulator DGCA has renewed the airline's air operator certificate.
Cash-strapped Jet Airways stopped flying from April 17, 2019. The Air Operator Certificate (AOC) was re-issued on May 20, 2022. However, since the airline did not start operations, AOC expired on May 19, 2023.
In a statement, the Jalan-Kalrock Consortium (JKC) said it has "successfully obtained renewal for AOC of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28, 2023".
The renewal of AOC revalidates the confidence of the Indian aviation regulator in the revival of Jet Airways, it added.
JKC emerged as the winning bidder for the grounded Jet Airways after an insolvency resolution process. However, the ownership transfer to JKC is yet to happen amid persisting differences between JKC and the lenders of the airline.
According to the statement, JKC remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline's success.
"JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in coming weeks," it added.
In early morning trade, shares of Jet Airways jumped nearly 5 per cent to Rs 50.80 on BSE.
Last week, JKC announced the appointment of Jatinderpal Singh Dhillon the airline's accountable manager.
Earlier this month, two whole time directors and a non-executive director were appointed at Jet Airways.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)