Jet Airways Stock Soars 47% as it’s all Set to Fly

Three years after being grounded, Jet Airways is set to relaunch in July-September with a new promoter. Unlike Kingfisher, which was forced to close its doors permanently, Jet Airways was able to recover after going bankrupt. This month, it received an Air Operator Certificate (AOC) from the aviation regulator DGCA. The airline was taken over by its new owners, UK-based Kalrock Capital Partners and UAE-based businessman Murari Lal Jalan, in June 2021.

The shares of Jet Airways rose 47 percent in a month, as expected, despite the broader markets being stressed by rising inflation and interest rates.

Jet, on the other hand, will enter an aviation market that is vastly different from the one it left. Far from the number one position it once held, Jet will be a newcomer among many promising newcomers, such as Vistara, a much stronger Air India acquired by Tata Sons.

Jet will also have to compete with established players such as IndiGo and SpiceJet, which have captured a significant portion of the market. Then there's a slew of new entrants like True Air, Star Air, and Alliance Air, which will be where Jet will land in its early months.