Jet Airways is getting a plan in place to resume operations flights and may start operations within six months of approval from the National Company Law Tribunal (NCLT), CNBC-TV18 has learnt.
NCLT concluded Jet Airways’ resolution plan hearings submitted by a consortium of Kalrock Capital and Murari Lal Jalan and reserved its order on June 18.
While clarity on Jet Airways slots is likely to emerge with the National Company Law Tribunal order, the airline has indicated to the court and the regulator that it is open to alternate slots with a margin of 15 minutes plus or minus on an average if the requirement for a slot cannot be met on account of non-availability, CNBC-TV18 has learnt.
Jet Airways was the oldest private airline in India when it shut operations in Apr 2019 due to a severe scarcity of funds. The resolution process for the 25-year-old airline began in NCLT in June 2019. Under the resolution process, Jalan-Kalrock Consortium emerged as the winning bidder for Jet Airways.
“The government has indicated that they want Jet Airways to revive. The interpretation for slots is subject to judicial review right now.