NEW DELHI: As the country’s aviation industry is coming out from the havoc caused by the covid-19 pandemic, new players are eyeing to try their luck in the airline business.
Jettwings Airways, the newest entrant in the aviation sector and the first from the North East region, on Wednesday, announced that it has received the no objection certificate (NOC) to operate Scheduled Commuter Air Transport Services and is aiming to start commercial operations from October 2023.
The airline will have its base in Guwahati and would offer regional connectivity under the government’s UDAN scheme to destinations in the Northeast region and eastern cities initially. The airline may start operations from a fleet of two Embraer E-Jets and has earmarked Rs 100 crore for initial funding of the project.
“We are expecting two aircraft by October and will immediately start flying operations once the planes are received. The company has plans to lease at least five planes within a year,” said Sanjive Narain, Chairman, Jettwings Airways. Narain is the owner of Assam’s oldest news channel and has interest in construction, health and automobile businesses.
He added that the airline will look to raise funds of about Rs 500 crore for future m expansion. The company, at present, claims to be ‘well funded’ and ‘adequately capitalised’ to start and sustain operations.
After expanding operations in the northeastern states, Jettwings would connect to cities such as Kolkata and Lucknow.
SpiceJet faces fresh trouble in UK court
NEW DELHI: Budget carrier SpiceJet is reportedly facing fresh trouble as two aircraft leasing companies, GASL Ireland and VS MSN, have secured a summary judgment worth $15 million against the airline from the London High Court.
As per reports, GASL Ireland and VS MSN are expected to seek enforcement of the UK court judgment via the National Company Law Tribunal (NCLT) in India.
The query sent to SpiceJet on the judgement remained unanswered. The fresh setback for the airline comes ahead of the NCLT hearing on Saturday in aircraft lessor Aircastle (Ireland) Limited’s second insolvency petition against the airline for unpaid dues. ENS