New Delhi, July 31 (SocialNews.XYZ) The Jalan-Kalrock Consortium, which is the resolution applicant for the cash-strapped Jet Airways, has successfully secured the renewal of the airline's air operator certificate (AOC) from the Directorate General of Civil Aviation (DGCA).
This crucial development clears the path for the grounded passenger carrier to resume its operations and revive its services in India.
In a statement issued on Monday, the Jalan-Kalrock Consortium said that the successful resolution applicant of Jet Airways successfully obtained renewal for the AOC of Jet Airways from the DGCA on July 28, thereby reinforcing its commitment to revive the airline.
"The renewal of AOC revalidates the confidence of the Indian aviation regulator in the revival of Jet Airways.
"JKC expresses its heartfelt gratitude to the aviation regulator, the Ministry of Civil Aviation, and all other stakeholders, in showcasing their faith in JKC and in the revival of Jet Airways.
"The Jalan and Kalrock Consortium 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."
According to the DGCA, considering that Jet Airways is still under the Corporate Insolvency Resolution Process (CIRP) and that NCLT (National Company Law Tribunal) & NCLAT (National Company Law Appellate Tribunal) have jurisdiction over the insolvency of the Company, they have granted extension(s)/exclusion(s) of time for the implementation of the approved Resolution Plan until September 3.
Consequently, the DGCA has extended the AOC for Jet Airways only for the limited purpose of completing the ongoing CIRP, valid until September 3. While putting some conditions, the aviation watchdog said that Jet Airways shall be required to undergo re-certification in accordance with the procedure contained in CAP 3100, as applicable for issuance of AOC and demonstrate compliance of all the applicable regulatory requirements afresh before commencement of flight operations.
"Fee as applicable for issuance of AOC, shall be payable for such re-certification and Jet Airways shall submit a firm action plan for revival of operations after the company is taken over by the SRA in accordance with the NCLT approved resolution plan,” said the DGCA.
Source: IANS
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