Jalan-Kalrock Consortium obtains renewed Air Operator Certificate from DGCA for Jet Airways

Jalan-Kalrock Consortium, the resolution applicant of Jet Airways on Monday, said that it has successfully obtained renewal for the Air Operator Certificate (AOC) of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28, 2023, thereby reinforcing its commitment to revive the Jet Airways.

According to a press release by Jet Airways, the renewal of AOC revalidates the confidence of the Indian Aviation Regulator in the revival of the beleaguered airline.

“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,” said the Jalan-Kalrock consortium on the development.

The press release highlighted that 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 will all relevant authorities, industry partners and stakeholders in reviving Jet Airways in coming weeks, the statement said.

Naresh Goyal-founded Jet Airways halted all operations on April 17, 2019 due to rising financial liabilities and the airlines was taken to bankruptcy proceedings by its lenders. 

In 2020, the committee of creditors chose the resolution plan submitted by UK-based Kalrock Capital and United Arab Emirates-based entrepreneur Murari Lal Jalan to revive and operate the airline.  

Jet Airways was one of the largest airlines in India, with a 21.2 per cent passenger market share in February 2016. Currently, the airline is currently being revived under the Insolvency and Bankruptcy Code as per the National Company Law Tribunal (NCLT) approved resolution plan of Jalan-Kalrock Consortium.

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