Jet Airways could be about to place an order for up to 200 aircraft, according to reports that have appeared in Indian media.
The rumored aircraft order could include aircraft of different sizes, both narrow and widebody, and could be announced at the Paris Air Show in June 2023, according to two people familiar with the development, as reported by Indian business news publication Mint.
It is not clear whether the order will go to one aircraft manufacturer or be split between Boeing and Airbus, as other Indian carriers have done recently.
The airline, which was once India’s largest private carrier, ceased all operations in 2019 as a result of financial difficulties. It was subsequently acquired by the Jalan-Kalrock consortium, formed by UAE-based Indian businessman Murari Lal Jalan and Kalrock Capital Partners, an entity controlled by investor, Florian Fritsch.
Jet Airways recovered its Air operator’s certificate (AOC) in 2022, but its plans to get back to the market have not yet materialized. Although the consortium’s bid was accepted in 2020, transfer of ownership was stuck in legal proceedings until it was confirmed in January 2023. Adding to this, the company has, in parallel, been involved in other court battles with its creditors. In February 2023, a court ordered the company to disburse funds to compensate former employees of the airline.
Jet Airways’ fleet is currently a shadow of what it used to be at its zenith. As of early March 2023, it is composed of five Boeing 777, one Boeing 737-900 and three Boeing 737-800s.
The current owners expect to launch scheduled services at some point in the second quarter of 2023, but creditors may still appeal the latest court decisions, which could result in further delay to the start of operations.
Indian airlines currently appear to be on a shopping spree, with Air India placing an order for 470 aircraft in February 2023, and IndiGo and startup carrier Akasa Air thought to be preparing their own orders likely to number in the hundreds. numbering in the hundreds of aircraft.
The volume of confirmed and prospective orders is such that there has been some speculation that Airbus or Boeing could consider locating part of its production to India.