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Vande Bharat Mission: Jet Airways offers planes for repatriation flights

Jet Airways' fleet presently stands at 12 aircraft which are either owned outright or under financing arrangement. Photo: MintPremium
Jet Airways' fleet presently stands at 12 aircraft which are either owned outright or under financing arrangement. Photo: Mint

  • Based on initial assessment Jet Airways can offer two aircraft to start with, going up to four aircraft, within a reasonable period of time
  • As things stand, the deadline for completion of airline's insolvency resolution process has been extended till August 21, 2020 due to the lockdown

NEW DELHI/MUMBAI : Jet Airways (India) Ltd, which has been grounded since a year now due to lack of funds, has offered two of its Boing 777 wide body aircraft for repatriation operations under the Vande Bharat Mission.

In a letter addressed to corporate affairs secretary Injeti Srinivas dated 20 May, Ashish Chhawchharia, the insolvency resolution professional managing the affairs of Jet Airways, said that based on initial assessment the airline can offer two aircraft to start with, going up to four aircraft, within a reasonable period of time for repatriation missions.

The airline would need funds for proposed repatriation flights, the letter added. A copy of the letter has been reviewed by Mint.

Jet Airways' fleet presently stands at 12 aircraft which are either owned outright or under financing arrangement.

"Out of the existing fleet one Airbus 330-200 aircraft is currently being operated by Air Serbia under sub lease agreement, while one Boeing 777-300ER aircraft is currently parked in Amsterdam. The remaining 10 aircraft are parked at various airports in India," Chhawchharia said.

Jet Airways' Air Operator's Certificate (AOC) must be activated and amended to reflect the current fleet size and the airline should be immediately allowed to carry out maintenance work by the ministry of civil aviation and Directorate General of Civil Aviation (DGCA), Chhawchharia added.

Jet Airways was grounded on 18 April 2019 due to an acute fund crunch.

On 20 June 2019, the Mumbai bench of the National Company Law Tribunal (NCLT) admitted Jet Airways under the Insolvency and Bankruptcy Code (IBC) after lenders referred it to the bankruptcy tribunal.

As things stand, the deadline for completion of Jet Airways's insolvency resolution process has been extended till August 21, 2020 due to the lockdown.

Earlier this month, fresh Expressions of Interest (EoIs) for the airline were invited and the deadline for submission is May 28.

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