Thursday, February 22, 2024
HomeAirline NewsThree Jet Airways executives quit ahead of relaunch

Three Jet Airways executives quit ahead of relaunch

Aviation regulator DGCA on Friday, May 20, granted Jet Airways an Air Operator’s Certificate (AOC), allowing the airline to resume commercial flight operations. Directorate General of Civil Aviation (DGCA) chief Arun Kumar told PTI that the “AOC” has been “granted” to Jet Airways. “By receiving the AOC, the Jalan Kalrock Consortium has fulfilled all conditions precedent under the resolution plan approved by the NCLT. The revalidation of the AOC allows Jet Airways to resume scheduled commercial operations in India. This significant milestone also heralds the return of the iconic airline in a new avatar with new funding, a change in ownership and new management,” the airline said in a statement.

Jetairways has been hit by three top-level resignations ahead of its relaunch. The three executives who resigned include Captains Niraj Chandan (head of flight security), Vishesh Oberoi (head of operations) and Sorab Variava (head of training). These positions are critical and generally senior pilots are nominated for these roles. The appointments are made after the approval of the Directorate General of Civil Aviation (DGCA)

The Jalan-Kalrock Consortium (JKC), which is preparing to launch the airline, has downplayed the outputs.
“We do not comment on rumors and speculations. Outputs and inputs occur in any organization. The senior management team for Jet Airways is now fully in place and we remain committed to restoring Jet Airways operations as quickly as possible,” a JKC spokesperson said in an emailed reply.
JKC had previously planned a September launch, but has yet to announce plans to introduce the aircraft. Large-scale pilot hiring is also expected after aircraft selection is complete.
The consortium said it is in the final stages of contracting with lessors and aircraft and engine OEMs.
Last June, the National Company Law Tribunal approved JKC’s resolution plan to revive the defunct airline. Under the plan, the consortium has agreed to Rs 475 million for creditors, employees and other creditors of the shuttered airline. “Creditors want to know how JKC plans to meet its obligations and then step in and take control of the company,” said a person with knowledge.
“The obligations of the Jalan-Kalrock consortium are clearly defined in the resolution plan approved by the NCLT and the consortium is fully compliant with all the obligations. The implementation of the plan for solving problems with the banks is progressing effectively,” the spokeswoman said.



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