Jet Airways in advanced talks for leasing planes; expects to start operations in coming weeks
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
08:46 PM IST