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Business News/ Companies / News/  Jet Airways opens hiring for Trainers, Captains, and Co-Pilot ahead of re-launch. Details here
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Jet Airways opens hiring for Trainers, Captains, and Co-Pilot ahead of re-launch. Details here

Jet Airways was grounded on 17 April 2019 as it ran out of cash. It was led by founder Naresh Goyal for over 25 years
  • However, in June last year, the National Company Law Tribunal (NCLT) approved the insolvency resolution plan submitted by Jalan-Kalrock consortium
  • The resumption of Jet Airways’ operations has been delayed several times (REUTERS)Premium
    The resumption of Jet Airways’ operations has been delayed several times (REUTERS)

    Jet Airways has begun the hiring process as the airline plans to take off by early 2022, after being grounded for almost three years. In the latest post, Jet Airways said it is looking to onboard experienced Trainers, Captains, and Co-Pilots (Type Rated 737NG) for immediate joining. The latest job advertisement confirms that the airline is set to relaunch anytime soon.

    Jet Airways was grounded on 17 April 2019 as it ran out of cash. It was led by founder Naresh Goyal for over 25 years. However, in June last year, the National Company Law Tribunal (NCLT) approved the insolvency resolution plan submitted by Jalan-Kalrock consortium, comprising British investor Kalrock Capital Management and UAE-based entrepreneur Murari Lal Jalan.

    This year Jalan-Kalrock Capital consortium said they hoped to restart operations in 2022 with six narrow-body planes after the revalidation of the airline’s air operator permit.

    The consortium has proposed to pay 1,183 crore to creditors over five years from the proceeds of the sale of assets and cash flow. It has also outlined a plan to invest 600 crore for the first two years to repay creditors. Besides, the consortium has also proposed to pay 131 crore, 193 crore, and 259 crore to financial creditors at the end of the third, fourth, and fifth year, respectively, from the airline’s cash flow.

    It must, however, be noted that the resumption of Jet Airways’ operations has been delayed several times. Key issues like obtaining slots at key airports have been a challenge for the airline. After the grounding of the airline in 2019, the Jet Airways' slots at major airports like New Delhi and Mumbai were redistributed to other airlines.

    Lawyers representing the ministry of civil aviation and the Directorate General of Civil Aviation have argued that though the allocation of Jet’s slots to other airlines was temporary, they couldn’t be withdrawn from them without any legitimate basis.

     

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    Published: 09 Feb 2022, 07:37 AM IST
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