Indian Airline Jet Airways on Monday announced to restart its domestic operations by the first quarter of 2022 and short haul international flights by the last quarter of the next year, reports PTI quoting Jalan Kalrock Consortium, the winning bidder for the grounded airline.
The first flight of Jet Airways would be on Delhi-Mumbai route, it mentioned, adding that the airline would now be headquartered in Delhi instead of Mumbai.
In June, the National Company Law Tribunal (NCLT) approved the Jalan Kalrock Consortium’s resolution plan for Jet Airways. The airline went into insolvency two years ago.
Here’s the timeline of Jet Airways in the last 26 years:
1992
Jet Airways (India) Limited incorporated on April 1, 1992, as a private company with limited liability.
1993
On May 5, 1993, it started operations as an air taxi operator. The airline operated 28 daily domestic flights to 12 destinations with a fleet of four Boeing 737-300 aircraft, leased from Ansett Aviation, Australia.
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2003
With 41 aircraft, Jet Airways started over 250 flights daily.
2004
On December 28, 2004, Jet Airways became a public company with a listing on the Bombay Stock Exchange.
2007
Jet Airways bought Air Sahara and also started inducting a mixed fleet of wide-bodied aircraft-B777-300ERs and the A330-200s.
2013
Etihad Airways become the first beneficiary of Jet Airways’ policy change and bought 24% stake for $379 million.
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2016
The airline shifted its international base from Brussels to Amsterdam in the spring of 2016.
2017
In November 2017, Jet Airways signed an ‘Enhanced Cooperation Agreement’ with codeshare partners Air France and KLM Royal Dutch Airlines.
2018
In March 2018, Jet Airways posted a net loss of Rs 1,036 crore, then a net loss of Rs 1,323 crore in June quarter, then a net loss of Rs 1,297.46 crore in September quarter and further in December quarter, a net loss of Rs 587.77 crore.
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2019
The airline was unable to pay salaries to pilots, engineers and senior management on time since August 2018.
In February, Jet’s Board of Directors considered and approved a Bank Led Provisional Resolution Plan (BLPRP).
On March 25, Naresh Goyal stepped down as chairman and from the board of directors.
The airline was grounded in April 2019 due to fund crunch and high debt.
2021
In June, the National Company Law Tribunal (NCLT) gave its nod to the Jalan Kalrock Consortium’s bid for the airline.
