On December 7, 2020, the consortium of UAE-based businessman Murari Lal Jalan and London’s asset management firm Kalrock Capital, which has won the bid to revive Jet Airways, announced plans to relaunch the airline by the summer of 2021.
The consortium is still awaiting the National Company Law Tribunal (NCLT), Ministry of Civil Aviation and other regulators to approve the airline’s revival plan.
“As per resolution plan, Jet Airways intends to operate all of its historic domestic slots in India and restart international operations. If everything goes as per plan and the consortium receives NCLT and regulatory approvals on time, Jet Airways would be back in the skies by the summer of 2021,” the consortium’s statement read, as seen by the Times of India.
The new investors chose to preserve Jet Airways brand, motivating the decision by the existing brand value. Over the 25 years of history, the airline has created loyal air travellers, which the airline wants to preserve and attract when the brand will be revived.
“We aim to re-energize the brand by infusing energy, warmth, and vibrancy into it while making it bigger and better,” board member of the Jalan-Kalrock consortium, Manoj Narender Madnani added.
Additionally, the new management of Jet Airways plans to increase air cargo services when the airline is set to restart its operations.