After sharing renewed hope, the controversial airline, Jet Airways, is drawing attention. People are keen to know if the bankrupt airline will again fly into the sky. The buzz related to this news is all over social media, and people are keen to know more about it. As we all know, Jet Airways ceased its operation on April 17, 2019, and over the last 4 years, this airline has been in controversy. Now, according to the reports, in spite of facing numerous challenges and allegations, there is renewed hope for this airline. Let’s find out more about it.
This iconic airline flew for nearly 26 years and was known for its professionalism and good services. Even though the logo of the airline depicts its warmth towards its commuters, the constant loss of this airline forced it to be shut down. But the controversy did not end there; later on, Jet Airways got involved in more issues. But now, a ray of hope has come across it, and if we believe the reports, this airline is hoping to renew, and if it is found to be true, then people can once again travel on it. After its first collapse in April 2019, news of its revival surfaced in the news.
It is not the first time that this kind of news has surfaced, as there are many airlines that are still in the queue of getting renewed, but none of them have been retrieved yet. So how will this airline be retrieved after its bankruptcy? As we all know, in the aviation industry, many carriers such as Kingfisher Airlines, Pan Am, Swiss Airlines, and Air Berlin have never been spotted in the sky again, so what is making sure about the return of Jet Airways? Let’s talk about it and see what exactly the matter is. In November 2018, Jet Airways was reported to have a downfall because of its increasing losses. By March 2019, it had come to the fore that Mr. Naresh Goyal and his wife Anitha Goyal had resigned from their positions, and even the Indian Oil Corporation had halted its fuel supply to the airline.
However, in 2020, the news of its revival surfaced after businessmen Maurari Lal Jalan and Karlock (asset management) bought this airline. At that time, the reports stated that this airline was planning to take off in 2022 as a full-service domestic airline. However, things did not work according to plan, and once again, the rumor of its renewal was halted. The reason behind the halt in operation was the non-renewal of its Air Operator’s Certificate in 2023. Then, in August 2023, it came to light that Jet Airways had lost its IATA code as all flights had been grounded for more than 4 years. Besides this, the airline was also involved in a legal battle between the Committee of Creditors (CoC) and the consortium.
However, the path to starting the renewal of the operation is not as easy as it looks. There are numerous challenges in the line-up, including the staff’s due payments. Despite all the hurdles, sources close to JKC are quite positive about the launch of Jet Airways 2.0 with six aircraft, and if things go according to plan, by the next five years, the number of aircraft will increase, and we will soon get the chance to travel once again with this airline. As of now, the details are limited but we are hoping to get more information. Till then stay tuned with us and we will shortly arrive with more information related to this matter.