The winning bidder for Jet Airways will have to apply for slots as there cannot be any deemed approval for the slots, according to submissions by the civil aviation ministry and regulator DGCA.
The ministry of civil aviation (MoCA) and DGCA mentioned their stance to the National Company Law Tribunal (NCLT), which had on February 25 sought their responses to Jet Airways’ slots issue.
NCLT is considering the resolution plan submitted by Kalrock-Jalan Consortium for the airline. The plan has already been approved by the Committee of Creditors (CoC).
Jet Airways shuttered operations in April 2019 after running out of cash and is currently undergoing a resolution process under the Insolvency and Bankruptcy Code.
According to the replies submitted by the MoCA and the DGCA on Wednesday, they are not in principle objecting to the resolution plan but there cannot be any deemed approval on the slots.
The resolution applicant should apply for slots and accordingly, approvals will be granted, they added.
The representative of Jet Airways insisted on the principle of historicity to be followed by the DGCA while granting the slots.
NCLT’s Mumbai bench, chaired by Mohammed Ajmal and V. Nallasenapathy, directed the MoCA and the DGCA and to file an affidavit regarding the slots. The matter has been adjourned for next week.