Jet Airways, Jet Airways share price, Jet Airways Airport Operator Certificate, Airport Operator Certificate,

Private carrier, Jet Airways is likely to fly the skies soon again. The cash-starved airline which was rescued by the Jalan-Karlock Consortium has obtained renewal for the Air Operator Certificate (AOC) from the Directorate General of Civil Aviation (DGCA). The news led to strong buying in Jet Airways share price on Monday, as it locked on its 5% upper circuit level.

This means, there are no sellers but several buyers in Jet Airways stock on Monday. At the time of writing, the airline's stock traded at Rs 50.80 apiece, at its 5% upper circuit.

In a statement, the consortium said, "Jalan-Karlok Consortium, the successful resolution applicant of Jet Airways successfully obtained renewal for the Air Operator Certificate (AOC) of Jet Airways from the Directorate General of Civil Aviation (DGCA) on July 28."

"JKC expresses its heartfelt gratitude to the aviation regulator, the Ministry of Civil Aviation, and all other stakeholders, in showcasing their faith in JKC and the revival of Jey Airways," the consortium said.

The consortium said it remains fully dedicated to the revival of Jet Airways and is committed to implementing a comprehensive strategy to ensure the airline's success.

Also, it said, JKC will continue to work closely with all relevant authorities, industry partners, and stakeholders in reviving Jet Airways in the coming weeks.

Jet Airways has not tasted the winds of skies for over 4 years now. It suspended its operations in April 2019 owing to a mountain of debts from financial creditors. The airline underwent the insolvency and bankruptcy procedure and later on, the NCLT approved the resolution plan of JKC.

Before halting in 2019, Jet Airways which was launched in 1993 was among the top private carriers in India and flew over 65 destinations on homeground and worldwide with 124 narrow and wide-body aircraft.

However, in a first in the Indian aviation industry, the airline is being revived under its name after being grounded for an extended period.