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No automatic slot renewal for grounded Jet Airways argues Indian regulator
March 11th 2021
India's Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation have told the country's National Company Law Tribunal (NCLT) Jet Airways did not have a historical right to keep take-off and landing slots it held before the airline's collapse in 2019, local media has reported. Read More » In a joint affidavit, the DGCA and the ministry said Jet Airways had not applied for slots for the past three consecutive seasons and therefore did not qualify for claiming the benefits of historical precedence. Regulators have reallocated Jet Airways slots to other airlines after the carrier became insolvent and was forced to stop flying. Last year, creditors approved a resolution plan from United Arab Emirates-based entrepreneur, Murari Lal Jalan, and United Kingdom-based investment fund, Kalrock Capital, to restore the international carrier to flying. At the time, the investors said they hoped to resume operations later in 2021.
