Jet Airways Take-off In Coming Weeks; In Advanced Talks For Leasing Planes

Jet Airways is in an advanced stage of talks with aircraft makers and lessors to lease planes and expects to restart operations in the coming weeks, according to executives at the airline.

The once-storied carrier is now under the ownership of the Jalan-Kalrock consortium and its air operator certificate was revalidated by aviation regulator DGCA in May this year.

The executives said the operations of Jet Airways will commence before the end of this year and the initial fleet plan is close to being finalised.

Earlier, the airline had said it was targeting to launch operations in October.

Amid reports of the launch being delayed, a spokesperson for the consortium said the airline is very close to finalising its initial fleet plan in preparation for opening for sale soon and restart of operations in the coming weeks.

"There is no deadline; target dates are set by us alone, and we have always maintained that this is a marathon, not a sprint. We had said we were targeting to launch by October 2022, and we are tracking quite close to that," the spokesperson said.

One of the executives quoted earlier said the airline is in an advanced stage of discussions for leasing aircraft and an announcement is likely soon.

According to the spokesperson, starting or re-starting an airline is a complex business and that it wants to get the best possible terms and contracts for both aircraft and engines. These include maintenance contracts and configuring aircraft to meet strategic requirements.

"If that takes a little more time to get right, that is fine," the spokesperson said.

In June, PTI reported that Jet Airways was in discussions with aircraft makers and lessors to lease 6-8 planes.

Jet Airways shuttered operations in April 2019 after being bogged down by financial woes and was later acquired by the Jalan-Kalrock consortium through the insolvency resolution process.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)