New Delhi, September 13: Shares of Jet Airways on Monday jumped 5 per cent as the company will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year.

The stock gained 4.97 per cent to close at Rs 83.50 -- its upper circuit -- on the BSE. Also Read | India Inc Witnessed 219 Deals Worth USD 8.4 Billion in August 2021, Says Report.

On the NSE, it jumped 4.98 per cent to close at Rs 84.40. Jet Airways will restart domestic operations by the first quarter of 2022 and short-haul international flights by the last quarter of the next year, Jalan Kalrock Consortium, the winning bidder for the grounded airline, stated on Monday. Also Read | RBI Cautions Against Frauds in the Name of KYC Updation, Asks People To Refrain From Sharing Personal Information With Unverified Agencies.

The first flight of Jet Airways would be on the Delhi-Mumbai route, it mentioned, adding that the airline would now be headquartered in Delhi instead of Mumbai.

The National Company Law Tribunal (NCLT) in June this year had approved the Jalan Kalrock Consortium's resolution plan for Jet Airways, two years after the once-storied full-service carrier went into insolvency proceedings.

In a statement, Murari Lal Jalan, Lead Member of the Jalan Kalrock Consortium, said, "Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short-haul international operations by Q3/Q4 2022."

The plan is to have 50-plus aircraft in three years and 100 plus planes in five years, which also fits perfectly well with the short-term and long-term business plan of the Consortium, he noted. The airline was grounded in April 2019 due to a fund crunch and high debt.

(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)