‘Jet’s winning bidder cannot claim airline’s original slots’

- Advertisement -

In a move that casts doubt on the future of Jet Airways, the Ministry of Civil Aviation has told the Mumbai bench of the NCLT that the airline’s winning bidder does not have a claim over the airport slots distributed among various airlines when Jet ceased operations in 2019 .

The NCLT is examining the revival plan for the airline submitted by the winning bidder — Murari Lal Jalan and Kalrock Capital Consortium. “The occasion for approval of slots and other bilateral rights will arise after approval of the resolution plan,” the Ministry said in an affidavit submitted to the NCLT. “The RA [resolution applicant] can’t claim these slots as matter of right under the present insolvency proceedings,” it added.

A slot is a permission given to an airline to land at or depart from an airport.

In March 2019, as Jet wound up operations, the Ministry of Civil Aviation devised a standard operating procedure to redistribute the slots held by it at various airports among different airlines to ensure passengers were not inconvenienced.

On Thursday, the Ministry said that during this process, the airlines had made investments in acquiring additional planes to deploy capacity for those slots. Hence, these could not be forfeited and returned to Jet’s new owner, the Ministry said.

“The RA can’t claim historicity on the slots which were allotted to them for winter 2018 and summer 2019 season, as they failed to utilize 80% of the slots allotted to them and stopped their operation even before commencement of these insolvency proceedings,” the Ministry said in the affidavit.

The Ministry added that as and when Jet applied afresh for slots, allocations would be made among the various airlines without any claim of historicity.

.

Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

Latest

Russia-Ukraine crisis live updates | Ukraine says mission at Mariupol steel mill is complete

 More than 260 Ukrainian fighters, including some who are badly wounded, were evacuated Monday from a steel plant in...

Deepika Padukone feels lines between Hindi, Tamil, Telugu film industries are...

Talking to The Times of India before leaving for Cannes, Deepika shared how she feels the lines between Hindi, Tamil, Telugu and Malayalam cinema...

Morning Digest | India-Nepal ties are as ancient as the Himalayas,...

Nepal people ‘equally happy’ for Ram temple in Ayodhya: ModiPrime Minister Narendra Modi on Monday referred to the common cultural heritage of India and Nepal...

Doctor Strange actor Zara Phythian sentenced to 8 years in jail...

Zara Phythian, known for her role in the 2016 Marvel film Doctor Strange, has been sentenced to eight years in jail for sexually abusing...

Deepika Padukone attends jury dinner at Cannes 2022. See photos, video

Bollywood superstar Deepika Padukone attended the jury dinner before walking the red carpet at the ongoing Cannes Film Festival in France. The actor, who...
- Advertisement -

More Articles

- Advertisement -