MUMBAI- According to a press release, Jalan-Kalrock Consortium, the resolution applicant of Jet Airways (9W), successfully obtained the renewal of the Air Operator Certificate (AOC) for Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28.
The release also mentioned that the renewal of AOC reflects the aviation regulator’s confidence in the revival of Jet Airways.
DGCA Renewed Jet Airways AOC
The Jalan-Kalrock consortium expressed their deep appreciation to the aviation regulator, the Ministry of Civil Aviation. Further to all other stakeholders for showing their trust in JKC and their commitment to the revival of Jet Airways.
As per the resolution plan approved by the National Company Law Tribunal (NCLT), Jet Airways is undergoing revival under the Insolvency and Bankruptcy Code, led by the Jalan Kalrock Consortium.
On July 28, the Jalan Kalrock Consortium informed the National Company Law Appellate Tribunal (NCLAT) that despite obtaining all the necessary permissions from the government, the Committee of Creditors (CoC) is not allowing them to begin operations.
Creditors Creating Hindrance in Restarting Ops: JKC to NCLAT
On July 28, the Jet Airways (9W) Jalan Kalrock Consortium (JKC) informed the National Company Law Appellate Tribunal (NCLAT) that despite obtaining all the necessary permissions from the government, the Committee of Creditors (CoC) is preventing them from initiating operations.
JKC stated that they acquired the Air Operator’s Certificate (AOC) for a one-year period starting from 2022-23. However, due to constant objections from the CoC regarding the ownership transfer at each stage, they were unable to commence their operations.
Krishnendu Dutta, the consortium’s Senior Advocate, conveyed to the appellate tribunal that if the airline did not begin its operations promptly, the slots they acquired would be reassigned to other parties.
JKC expressed to the court that they find themselves uncertain due to ongoing litigation pursued by DGCA against them in multiple forums.
The Committee of Creditors (CoC) is presenting contradictory positions in different forums. The consortium urges the NCLAT to settle the matter regarding their ownership decisively.
Photos By: Siddh Dhuri (@mumbaiplanes) • Instagram photos and videos
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