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Jet Airways News -- Part 16

 
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PostPosted: Thu Sep 16, 2021 9:30 am    Post subject: Jet Airways News -- Part 16 Reply with quote

https://www.ch-aviation.com/portal/news/107720-indias-jet-airways-to-lease-narrowbodies-for-1q22-restart

Jet Airways to lease narrowbodies for 1Q22 restart

15.09.2021

Jet Airways (JAI, Mumbai Int'l) is expected to start domestic flight operations in the first quarter of 2022 and is working closely with airport operators on slot allocation, the Jalan-Kalrock consortium behind the attempt to relaunch the airline has told local media in a press release.

The new-look carrier intends to perform its first post-insolvency commercial flight from Delhi Int'l to Mumbai Int'l early next year, followed by short-haul international flights by the third or fourth quarter of 2022, the consortium said on September 13.

Sudhir Gaur has been named acting chief executive of the resurrected airline. He is a veteran pilot who has been with Jet Airways since its inception and who led criticisms of the company’s management last year before the consortium of London-based asset management firm Kalrock Capital and Murari Lal Jalan, an investor based in the United Arab Emirates, secured the approval of creditors in November and subsequently the backing of the National Company Law Tribunal (NCLT) in June 2021.

The statement said that the process of resuscitating the grounded carrier was on track, with its existing Air Operator’s Certificate (AOC) in the process of revalidation. The consortium is working with the relevant authorities on slot allocations and the necessary airport infrastructure, it added. The Mumbai bench of the NCLT has given the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation 90 days to allot the required slots to Jet Airways, to be effective from June 2022.

“Our plan is to have 50+ aircraft in three years and 100+ in five years,” Jalan said in the statement, adding that an “all-narrowbody fleet” was “being selected based on competitive long-term leasing solutions. It is the first time in the history of aviation that an airline grounded for more than two years is being revived.”

According to Gaur, Jet Airways has already hired more than 150 full-time employees, and by the start of the 2022 financial year (April 1 next year), the recruitment of more than one thousand personnel will start in all categories.

The company’s headquarters will be in Gurgaon, a city just to the southwest of both New Delhi and Delhi Int’l. The first version of the carrier was based at Mumbai Int’l. However, “Jet Airways will continue to have strong and significant presence in Mumbai,” Gaur promised.

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PostPosted: Tue Sep 21, 2021 10:43 pm    Post subject: Re: Jet Airways News -- Part 16 Reply with quote

747-237 wrote:
https://www.ch-aviation.com/portal/news/107720-indias-jet-airways-to-lease-narrowbodies-for-1q22-restart

Jet Airways to lease narrowbodies for 1Q22 restart


The company’s headquarters will be in Gurgaon, a city just to the southwest of both New Delhi and Delhi Int’l. The first version of the carrier was based at Mumbai Int’l. However, “Jet Airways will continue to have strong and significant presence in Mumbai,” Gaur promised.


I strongly suspected this.

Makes no sense to have all of India's airlines headquartered in and around the national capital, but I'm supposing it's an unwritten requirement with the powers that be.
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PostPosted: Wed Sep 22, 2021 7:22 pm    Post subject: Re: Jet Airways News -- Part 16 Reply with quote

The_Goat wrote:
747-237 wrote:
https://www.ch-aviation.com/portal/news/107720-indias-jet-airways-to-lease-narrowbodies-for-1q22-restart

Jet Airways to lease narrowbodies for 1Q22 restart


The company’s headquarters will be in Gurgaon, a city just to the southwest of both New Delhi and Delhi Int’l. The first version of the carrier was based at Mumbai Int’l. However, “Jet Airways will continue to have strong and significant presence in Mumbai,” Gaur promised.


I strongly suspected this.

Makes no sense to have all of India's airlines headquartered in and around the national capital, but I'm supposing it's an unwritten requirement with the powers that be.


Apart from GoFirst (Mumbai), AirAsia (Bangalore), TruJet (Hyderabad) all rest are or will have HQs in Delhi area. The impression is that if you are in Delhi, one will be in an advantageous position with approvals etc.

Also Shiv Sena in Mumbai did no favors to Jet 1.0 by constantly pressurizing them to retain employees even when they were losing money.
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PostPosted: Wed Sep 29, 2021 8:23 pm    Post subject: Re: Jet Airways News -- Part 16 Reply with quote

iah87 wrote:


Apart from GoFirst (Mumbai), AirAsia (Bangalore), TruJet (Hyderabad) all rest are or will have HQs in Delhi area. The impression is that if you are in Delhi, one will be in an advantageous position with approvals etc.

Also Shiv Sena in Mumbai did no favors to Jet 1.0 by constantly pressurizing them to retain employees even when they were losing money.


I believe Akasa, the new venture planning on flying 737 MAX aircraft, will be headquartered in Bangalore.
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PostPosted: Fri Oct 08, 2021 3:33 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/108398-indias-jet-airways-volte-faces-on-b777-plans

Jet Airways volte-faces on B777 plans

06.10.2021

Contrary to earlier indications that it would abandon the type, Jet Airways is now contemplating reactivating some of its owned B777-300(ER)s when it restarts, a source told The Economic Times.

At the time of its grounding amidst an acute liquidity crisis in April 2019, Jet Airways operated nine B777-300(ER)s, of which it owned six. One of them was sold by Dutch administrators for USD9 million but the airline retains the other five aircraft. Three of them are stored at Mumbai Int'l airport and the other two at Delhi Int'l, the ch-aviation fleets advanced module shows.

According to new owners, the Kalrock Capital-Murari Lal Jalan consortium, Jet Airways plans to restart in the first quarter of 2022. International flights - albeit initially only short- and medium-haul - could relaunch in the second half of the next year. Before that happens, however, the airline has to complete the necessary paperwork. And while its Air Operator's Certificate (AOC) has only been suspended and not withdrawn, the revalidation has yet to be completed.

Besides the B777s, Jet Airways also owns one A330-200, two B737-800s, and one B737-900.

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PostPosted: Mon Oct 11, 2021 11:58 pm    Post subject: Reply with quote

They are going to find it a bigger struggle than they bargained for. The AI takeover by the Tatas has changed everything.

The Tatas now have a huge stranglehold over the FSC sector in India with AI and Vistara in their pocket. AI will only get better and better. The Tatas are sure to hoover and steam up AI's premium offering and bring it somewhat on par with the likes of SQ and Qatar. Once business travel picks up post pandemic, the premium crowd from Star Alliance will give AI a serious consideration.

I'm sure this is what Murari Jalan had in mind when he thought of re-introducing the 77Ws. It's the only aircraft they have that can offer the premium product to compete with AI-Vistara. And again, it remains to be seen whether 9W part 2 will get back its slots.

9W part 2 is going to have to work real hard to get re-established.
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PostPosted: Tue Oct 19, 2021 8:11 pm    Post subject: Reply with quote

Ex Jet Airways B77W VT-JEW, that was impounded at Schiphol Amsterdam three years ago, is now on her way to VCV. She now has a new registration N377CL.

https://flightaware.com/live/flight/N377CL/history/20211019/1012Z/EHAM


She will most likely be scrapped.
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PostPosted: Thu Dec 02, 2021 3:31 pm    Post subject: Reply with quote

https://www.moneycontrol.com/news/business/jet-airways-in-talks-with-boeing-airbus-for-100-aircraft-worth-12-billion-report-7784691.html

Jet Airways in talks with Boeing, Airbus for 100 aircraft worth $12 billion: Report

Dec 02, 2021

Jet Airways is reportedly in talks with airplane makers Boeing Co and Airbus SE to place an order worth $12 billion, Reuters reported on December 2, citing Bloomberg News.

The new owners of the airlines – United Arab Emirates-based businessman Murari Lal Jalan and United Kingdom-based investment firm Kalrock Capital have told that Jet is planning to buy at least 100 narrow-body aircraft.

The Jalan-Kalrock consortium is set to invest about $200 million through equity and debt in Jet Airways over the next six months.

The group's resolution plan for Jet was approved by the National Company Law Tribunal (NCLT) on June 22. The airline is aiming to restart domestic operations by the first quarter of 2022.

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PostPosted: Mon Dec 06, 2021 8:08 pm    Post subject: Reply with quote

Every airline is merrily ordering massive aircraft from Airbus or Boeing. Here we have Jet, last month was Akasa and then Indigo is constantly ordering.

Tata/Air India will soon ramp up too. I am not sure if India needs some many flights and the airports especially the bigger ones can handle all that traffic and parking.
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PostPosted: Mon Dec 06, 2021 10:12 pm    Post subject: Reply with quote

If anybody has an iota of IQ, they will order aircrafts keeping GNoida/Jewar airport in mind. Or are we going to be losers again? This is keeping mind that that airport will be cargo predominant, if not cargo only.

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PostPosted: Tue Dec 07, 2021 12:29 am    Post subject: Reply with quote

iah87 wrote:
Every airline is merrily ordering massive aircraft from Airbus or Boeing. Here we have Jet, last month was Akasa and then Indigo is constantly ordering.

Tata/Air India will soon ramp up too. I am not sure if India needs some many flights and the airports especially the bigger ones can handle all that traffic and parking.


Of the lot, I see only Tata (Vistara-AI-AIX-Air Asia) and IndiGo surviving in the long run. Maybe Go First may survive too.

Jet part 2 is not getting off the ground, at least as an FSC. No way they can compete with the Tatas. Even if they do, they will be a marginal player with 15-20 planes at the max.

Then it will be Akasa vs SpiceJet. One of the two will bite the dust.
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PostPosted: Mon Dec 20, 2021 7:38 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/110872-indias-jet-airways-looks-to-settle-debts-expedite-relaunch

Jet Airways looks to settle debts, expedite relaunch

20.12.2021

Jet Airways is planning to resume flight operations early next year, the Jalan Kalrock Consortium has said adding that they have petitioned the Mumbai Bench of the National Company Law Tribunal (NCLT) to allow them to expedite their recapitalisation of the dormant carrier as per their plan, which was approved by the NCLT back in June.

In a statement to the Indian press last week, the airline's new promoters asked the court to allow them to execute the plan as of December 22 and thus pay all stakeholders, including former employees and ticket claimants. They added that Jet was busy revalidating its existing Air Operator Permit (AOP) which was suspended back in 2019. The process with India's Directorate General for Civil Aviation (DGCA) began back in August this year, soon after the NCLT consented to the consortium's plan. As such, the pursuit of a renewed licence has been expedited in an effort to meet the early 2022 launch timeline.

“We are in regular touch with the DGCA and the Ministry of Civil Aviation to have Jet’s AOP revalidated and we thank the authorities for their continued support. Jet Airways has an existing AOP valid until 2023, which was only suspended in 2019 due to the financial health of the company then, and the current process taken up is towards removing the said suspension, so the time required for getting the AOP revalidated will be substantially less in comparison to obtaining a fresh AOC by a new company," the Jalan Kalrock Consortium said.

Florian Fritsch of Kalrock Capital Partners added that talks are underway with Airbus (AIB, Toulouse Blagnac) and Boeing (BOE, Chicago O'Hare) over Jet's plans to operate a fleet of over 100 aircraft by 2027. For its launch, it is looking to use six unspecified narrowbody jets.

On the crucial issue of slots at India's main airports, including Delhi Int'l and Mumbai Int'l, the consortium said it had been been working closely with the Ministry of Civil Aviation and the Airports Authority of India (AAI) to secure access to the gateway airfields as well as overnight parking space.

“We have held multiple rounds of discussions with all key airports which form part of the initial network plan and are confident to get the required slots in the Summer schedule of 2022,” it said.

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PostPosted: Mon Feb 07, 2022 6:01 am    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/112336-indias-jet-airways-applies-for-aoc-amidst-uncertain-funding

Jet Airways applies for AOC amidst uncertain funding

07.02.2022

Jet Airways applied for the restoration of its Air Operator's Certificate (AOC) in the last week of January 2022, although there remains a lack of clarity as to the financing of the carrier's recertification, the Business Standard daily has reported.

The dormant carrier hopes the Indian Directorate General of Civil Aviation (DGCA) will begin documentation checks in mid-February, paving the way for proving flights by the end of this month. The AOC could then be restored by March 15, allowing Jet to restart operations nearly three years after it suspended them.

`On top of appointing new executives, Jet has submitted Letters of Intent (LOIs) for its first batch of narrowbody aircraft for the planned restart and has preliminary agreements with maintenance providers.

Jet Airways must complete its recertification by March 22, when the resolution plan submitted by new owners, the Murari Lal Jalan and Kalrock Capital consortium, and approved in June 2021, is due to lapse. As such, if it does not regain the AOC, the entire restructuring and acquisition will be jeopardised.

While sources said Jet Airways should not face any problems in completing its AOC drive, as it suspended operations solely for financial and not technical reasons, procedural issues relating to the funding of the process may put it at risk. The National Company Law Tribunal (NCLT) has ruled that its new owners can only take formal ownership of the carrier once it regains its AOC. Until then, the airline remains owned by its creditors' consortium led by the State Bank of India.

This arrangement has made the new owners more cautious about funding Jet's recertification. Sources said the consortium has acted in good faith and was willing to expedite the injection of INR1 billion rupees (USD13.4 million) in December, more than the AOC drive requires, but the NCLT refused to accelerate the transfer of ownership.

Separately, in January, the NCLT ordered the new owners to share parts of their resolution plan, which remains secret, with Jet's labour unions. The order only pertains to the parts of the plan which affect employment conditions.

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PostPosted: Wed Feb 16, 2022 12:20 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/112693-indias-jet-airways-secures-66mn-loan-to-finance-restart

Jet Airways secures $6.6mn loan to finance restart

16.02.2022

Jet Airways (JAI, Mumbai Int'l) has secured a INR500 million rupee (USD6.6 million) unsecured inter-corporate deposit from Orion IT, a fund owned by the airline's forthcoming co-owner Murari Lal Jalan, to finance its recertification and relaunch.

The grounded carrier said in a stock market filing on February 14, 2022, that the deposit will bear no interest and will be payable in one or more tranches ahead of the carrier's relaunch. Jet Airways will start repaying the facility only once it is recertified and after it repays all obligations to financial creditors.

Orion IT is owned by Murari Lal Jalan and Ankit Jalan. Murari Lal Jalan is also a partner in a consortium with Kalrock Capital, which submitted an approved resolution plan for the airline and is set to become its new owner.

However, according to the terms set by the National Company Law Tribunal, the Murari Lal Jalan-Kalrock Capital consortium can only take ownership of the airline once it regains its Air Operator's Certificate. This has led to a stalemate as the new investors have been unwilling to fund the airline's AOC drive due to the fact they currently have no stake and no formal guarantees. Without such investment, the airline will not be able to bear the costs of recertification.

As the resolution plan is valid through March 22, 2022, the Indian carrier has to resecure its flying permit by this date to facilitate the formal transfer of ownership. For the time being, the airline remains owned by a consortium of its financial creditors.

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PostPosted: Sat Apr 09, 2022 6:40 am    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/114433-jet-airways-outlines-plans-for-hybrid-model-recertification

Jet Airways outlines plans for hybrid model, recertification

08.04.2022

Jet Airways (JAI, Mumbai Int'l) plans to lease a B737 for AOC proving flights this month as it gears up to relaunch as a hybrid business model combining no-frills economy class with a premium business class product

"We are confident that we are very close to a proving flight. Proving flight is the last step. If you pass the last step, there's nothing preventing you from getting the Air Operator's Permit," Chief Executive Sanjiv Kapoor told Bloomberg.

He said the carrier was still in talks with Airbus, Boeing, and Embraer concerning its future fleet, and refused to divulge any details. However, he conceded that the final choice would be driven primarily by long-term perspectives rather than by the short-term availability of delivery slots. He also did not outline a timeline for the relaunch.

The carrier is restarting under a consortium between Murari Lal Jalan and Kalrock Capital. Under the terms of the restructuring plan approved last year, the new investors had until the end of March 2022 to recertify the carrier. However, in March they requested more time, until the end of May 2022, to prevent the lapsing of the approved restructuring plan. While the National Company Law Tribunal has yet to issue a verdict on the application, the airline's creditors - who remain its owners pending the recertification and transfer of ownership to the Murari Lal Jalan-Kalrock Capital consortium - have expressed their support for the extension. On April 1, the creditors estimated that the airline needed an additional 37 working days to complete its recertification.

Meanwhile, Jet Airways is already preparing its commercial offer. Kapoor said the airline's proposed business model was the best fit for the Indian market environment.

"It's very difficult in the domestic Indian market to take on the cost of the food and everything else in economy class, where the customer in India chooses primarily on the basis of fares. Let's just accept that, and let's not burden ourselves with extra cost," he explained.

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PostPosted: Wed May 04, 2022 8:44 pm    Post subject: Reply with quote

https://www.ch-aviation.com/portal/news/115117-indias-jet-airways-adds-b737-800-for-aoc-proving-flights

Jet Airways adds B737-800 for AOC proving flights

04.05.2022

Jet Airways (JAI, Mumbai Int'l) has edged closer to its long-awaited restart, having added a B737-800 for proving flights expected in mid-May 2022. Live Mint reported that the airline expects to relaunch commercial operations between July and September 2022.

VT-SXE (msn 34802) is currently at Hyderabad Int'l in Jet Airways' livery, but has yet to begin proving flights. The 15.3-year-old Boeing narrowbody was operated by Jet Airways between 2007 and its collapse in 2019 as VT-JGU, the ch-aviation fleets history module indicates. It was subsequently transferred to SpiceJet (SG, Delhi Int'l), which operated it through December 16, 2021, Flightradar24 ADS-B data shows. Since then, the aircraft has been parked.

Sources said that while the dates had not yet been finalised, the proving flights with Directorate General of Civil Aviation (DGCA) officials on board are tentatively expected in the first half of May.

Jet Airways, under new ownership by the Murari Lal Jalan and Kalrock Capital consortium and with new management (led by CEO Sanjiv Kapoor), is planning to relaunch in as a hybrid business model combining premium seats and no-frills economy class. Kapoor said earlier that the airline, which has been grounded since April 2019, will relaunch by October 2022 at the latest. Even though it would be using the B737-800 for proving flights, it has yet to announce its fleet plans publicly. Kapoor said Airbus, Boeing, and Embraer aircraft were all under evaluation.

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