Aviation safety regulator DGCA has renewed with conditions the Air Operator Certificate (AOC) of Jet Airways until September 3, a senior official said on Monday.
Cash-strapped Jet Airways stopped flying on April 17, 2019.
The AOC was re-issued on May 20, 2022. However, since the airline did not start operations, it expired on May 19 this year.
“DGCA (Directorate General of Civil Aviation) has extended the AOC in respect of Jet Airways for a period up to 03.09.2023 only for the limited purpose of completing the ongoing CIRP,” said the official.
The extension of AOC, however, is subject to certain conditions, he said.
Earlier in the day, Jalan-Kalrock Consortium, the winning bidder for the bankrupt airline said in a statement that the DGCA has renewed the airline’s AOC.
Last week, JKC announced the appointment of Jatinderpal Singh Dhillon as the airline’s accountable manager.
Earlier this month, two whole-time directors and a non-executive director were appointed at Jet Airways.
The conditional extension of the AOC has been granted considering that National Company Law Tribunal (NCLT) and the appellate tribunal NCLAT “have granted an extension(s)/exclusion(s) of time for implementation of the approved Resolution Plan up to 03.09.2023,” the DGCA official said.
As part of the conditions, Jet Airways will be required to undergo re-certification in accordance with the procedure contained in CAP 3100, as applicable for issuance of AOC and demonstrate compliance with all the applicable regulatory requirements afresh before the commencement of flight operations, the official stated.
Besides, Jet Airways will submit a firm action plan for the revival of operations after the company is taken over by the SRA (successful resolution applicant) in accordance with the NCLT-approved resolution plan.
JKC emerged as the winning bidder for the grounded Jet Airways after an insolvency resolution process. However, the ownership transfer to JKC is yet to happen amid persisting differences between JKC and the lenders of the airline.
In its statement, the Jalan-Kalrock Consortium (JKC) said it has “successfully obtained renewal for AOC of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28, 2023”.
The renewal of AOC revalidates the confidence of the Indian aviation regulator in the revival of Jet Airways, it added.
According to the statement, JKC 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 with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in coming weeks,” it added.