India Allows Airlines To Use Jet Airways’ Slots Till Dec. 31
The government had allocated Jet Airways’ vacant slots to local airlines till Sept. 30 to overcome the capacity deficit.
The civil aviation ministry has allowed domestic airlines to operate the slots vacated by Jet Airways (India) Ltd. at various airports till Dec. 31, 2019, an industry source said Tuesday.
Jet Airways, which is undergoing insolvency at India’s bankruptcy courts, stopped flying on April 17, leaving hundreds of slots vacant at domestic and international airports.
The government had allocated some of these vacant slots to local carriers till Sept. 30 to overcome the capacity deficit.
Meanwhile, the Jet Airways resolution professional has received only three expressions of interest for a stake sale process launched by banks, but later one of the EoIs was withdrawn.
Volcan Investments, an investment company funded Vedanta Resources Chairman Anil Agarwal’s family trust, withdrew its EoI for Jet Airways a day after submitting it.
Etihad Airways, which owns 24 percent in the airline, did not submit the EoI as well.
These EoIs will be examined by Resolution Professional Ashish Chhawchharia to verify their eligibility. The final bids are to be submitted by Sept. 12.
On Tuesday, Jet Airways shares 4.97 percent to Rs 36.35 apiece on the BSE while the benchmark Sensex shed 0.20 percent to end the day at 37,328.01 points.