Will support Jet resolution process within existing regulatory framework: MoCA

Hours after cash-starved Jet Airways announced the suspension of operations, the Ministry of Civil Aviation (MoCA) said Wednesday it will support the resolution process within the existing regulatory framework.

In its first reaction on the latest Jet Airways development, the ministry also said that the DGCA and other regulators are monitoring the situation carefully to ensure that all existing rules regarding refunds, cancellations, and alternate bookings are followed strictly.

Jet Airways, which flew just five planes on Tuesday, has decided to suspend operations in the night after lenders decided not to extend emergency funds.

In a series of tweets, the ministry said the airline has informed it about temporarily ceasing operations.

"The bank-led resolution process is still underway and expected to end by May 10. During this time, MoCA (Ministry of Civil Aviation) will support the resolution process within the existing legal and regulatory framework," it said.

Further, the ministry said its overriding priority remains the safety, convenience, and affordability of the aviation system".

"Any passenger complaints or issues should be promptly reported to the #AirSewa portal or mobile app. We will follow up immediately," it added.

On Thursday, Civil Aviation Secretary Pradeep Singh Kharola would convene separate meetings with representatives of airports and airlines to coordinate and address any emerging issues on capacity, slots and passenger convenience.

"We are assisting airlines and airports to bring in capacity rapidly to ensure that fares remain stable and competitive," the ministry said.

Bringing down the curtains after the carrier began flying more than 25 years ago, Jet Airways said, "last flight will operate today".

"This decision has been taken after a painstaking evaluation of all alternatives that were made available to the company and after receiving guidance and advice on the same from its Board of Directors," the airline said in a statement.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)