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Slots key to Jet Airways revival

The deadline for applying for the next round of airport slots is January 15
Counsel representing the ministry told the tribunal that it will examine the issue if Jet Airways prospective investors come up with a concrete business plan. He further said that slots are perishable assets and it cannot be used by other airlines.

PTI   |   Mumbai   |   Published 17.12.19, 07:19 PM

The aviation ministry and the directorate general of civil aviation (DGCA) on Tuesday informed the National Company Law Tribunal (NCLT) that they will positively consider any concrete business plan for the grounded Jet Airways.

Counsel representing the ministry told the tribunal that it will examine the issue if Jet Airways’ prospective investors come up with a concrete business plan. He further said that slots are perishable assets and it cannot be used by other airlines.

The deadline for applying for the next round of airport slots is January 15.

Airport slots, the permit for arrival and departure at an airport, play an important role for potential bidders to value the grounded airline.

The ministry further said that two new foreign investors have shown very early interest for the grounded airline besides South America’s Synergy Group, which is the sole company to have shown interest in Jet Airways till now.

Earlier on December 11, the tribunal comprising Bhaskara Pantula Mohan and Rajesh Sharma had asked senior officials from the civil aviation ministry and the DGCA to depute responsible officials for Tuesday’s hearing.

The tribunal had once again directed the DGCA and the ministry to give clarity on the available Jet Airways slots. The NCLT will hear the Synergy Group on Thursday about the company’s clarifications on its stand on the airport slots. 

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