Jet Airways Might Restart Operations by Summer 2021 Under Jalan-Kalrock Consortium
The consortium led by Murari Lal Jalan and Kalrock Capital is in talks with the regulators to reinstate all the domestic slots that the airline had before it halted operations
Jet Airways is expected to resume its domestic and international operations by summer 2021, two years after it was grounded in April 2019.
The consortium led by UAE-based businessman Murari Lal Jalan and London-based Kalrock Capital, who were given a nod by the airline’s creditors to revive it, is in talks with the regulators to reinstate all the domestic slots that the airline had before it halted operations.
Before the airline was made to ground all its flights, Jet Airways operated a fleet of more than 120 planes. Besides its wide domestic presence, the airline also had international hubs such as Singapore, London and Dubai.
Termed as Jet 2.0, under the revival program the airlines will start with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes, statement from the new promoters said.
“We aim to re-energise the brand by infusing energy, warmth, and vibrancy into it while making it bigger and better,” said Manoj Narender Madnani, Board Member of Jalan Kalrock Consortium.
Delhi, Mumbai and Bengaluru will continue to be the hubs under Jet 2.0, whereas the plan has proposed to support Tier 2 and Tier 3 cities by creating sub-hubs.
The Jalan-Kalrock consortium said it had considered starting a new airline “but inherent strengths of Jet Airways, such as the optimal flight slots, brand value and reputation for best-in-class inflight service and safety, giving Jet 2.0 an edge over others, were too tempting to resist.”
“Jet Airways has been a brand with a glorious history of over 25 years, and it is the vision of the Consortium to put Jet Airways back in the skies at the earliest opportunity,” said Madnani. “Over the years, the brand has created loyal customers and we wish to bring in freshness by adding value – an Indian brand with a global outlook, warm yet professional which symbolises the New India, Young India.”
As Jet attempted to compete with low-cost rivals, it was saddled with an estimated debt of USD 4.1 billion and forced to suspend operations.