Jet Airways boosts revival prospects in turbulent Indian market
While India’s Jet Airways still has many steps to complete before relaunching, its chances of emerging after a two-year hiatus have increased considerably after gaining a key court approval for its revival plan. It will be a very different airline in its second iteration, and it will also confront a vastly changed Indian airline market.
The favourable decision by the National Company Law Tribunal (NCLT) is undoubtedly a major milestone for Jet Airways and its new owners. Although the court ruling did not deliver all that the airline’s backers had hoped for regarding airport slot claims, it was still enough for them to confirm that they will proceed with the relaunch. But first they have other significant hurdles to overcome, and agreements to negotiate, to meet operational requirements.
If Jet succeeds in resuming flights, its market re-entry will be one of the potentially significant developments that could shake up India’s airline market. Consolidation, ownership reshuffles, and market share expansion by some players are all on the cards for the post-pandemic industry landscape.
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