After filing a revival plan for Jet Airways in November, the consortium formed by asset management firm Kalrock Capital and entrepreneur Murari Lal Jalan has said that they plan to keep the airline public. The consortium is currently waiting for approval from the bankruptcy court to resume operations of Jet Airways.
As per current estimates, the consortium hopes to restart Jet Airways in around four to six months after receiving the requisite approvals from the court. A resolution plan will be heard by the tribunal on Monday. The promoters have also said that they will retain the ‘Jet Airways’ brand which has seen its up and downs over the past few years.
Read - Jet Airways To Resume Operations By Summer 2021
In an interview with Livemint, Murari Lal Jalan said that the consortium will restart operations with around 25 planes while holding its base in New Delhi. International flights will likely start by the end of 2021, he added.
Among the many challenges faced by the consortium is the management of its staff, and making sure experienced personnel are willing to return to the airline.
“Jet’s former staff are assets and we will definitely want to look after them. We will do whatever is possible and whatever is practical. They are human capital, and experienced professionals, who we are looking forward to working with,” Jalan said.
Also read - Kalrock-Jalan Consortium Will Invest ₹1,000 Crores To Revive Jet Airways
When asked about getting Jet’s old airport slots back in regions like Mumbai, Jalan said that they remain optimistic and that they have received assurances from the Ministry of Civil Aviation that any required slot will be provided. “Also, a lot more slots are available now than what a year ago. I don’t foresee any problem with slots,” he added.
“I am in one of the best situations. We got the airline at a very competitive price due to the covid situation. Our cost is going to be much less than any other airline in the future. This is because we are going to start the airline without any liabilities. By the time we are airborne, the market will come back 100%,” the businessman said about operational costs and securing finances for the venture.
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