The Mumbai bench of NCLT has once again asked the Directorate General of Civil Aviation (DGCA) and Ministry of Civil Aviation (MOCA) to inform the court about the status of the erstwhile slots of Jet Airways. This comes even as the meetings between the winning bidders, a consortium of UAE-based Kalrock Capital and entrepreneur Murari Lal Jalan, have had multiple meetings with the authorities to iron out the issues of slots.

During the hearing on Thursday, the counsels appearing on behalf of the consortium said that as requested by them, there was still no clarity on the slots of the grounded airline.

The court was also informed that the meetings with the civil aviation authorities have been happening over the past two weeks. The court then told the aviation authorities to expedite the matter on the slots.

The two-judge Bench comprising Justices Janab Mohammed Ajmal and V. Nallasenapathy will hear the case next on May 3. The matter of the slots is important because landing and take-off slots are an intangible asset of an airline. Jet Airways had some of the most premium slots.Having these slots allows a scheduled airline to carry out landings and departures at an airport during a specific time period.

After its temporary grounding, Jet Airways slots have been redistributed to other airlines, including at the country’s busiest airports such as New Delhi and Mumbai, which are high in demand. The DGCA and the Aviation Ministry had in March informed the NCLT that the consortium will have to apply afresh for airport slots.

Source: thehindubusinessline