Former Jet Airways CEO Sanjiv Kapoor said an airline can be revived in India.
Travel industry veteran and former Jet Airways CEO Designate Sanjiv Kapoor told NDTV today that the return of the airline was good not only for the company but also the market. "In a market as large as India, you need a choice of full-service airlines. It would not be good for consumers, corporates etc, it is not good to have just one full-service airline," he told NDTV in an exclusive interview, pointing to the exorbitant fares of domestic flights to Mumbai or Kolkata from Delhi.
"That can only get worse if there is no competition," he said.
"It is good for the bankruptcy process to show that the IBC (insolvency and bankruptcy code) process can work. An airline can be revived in India," he added.
Mr Kapoor was put in charge of Jet a year ago to spearhead its revival by the Jalan Kalrock Consortium, which emerged as the winning bidder for Jet Airways under the insolvency resolution process. Two days ago, he quit his post in a decision that surprised many.
Asked what his next step will be, he said he wanted a "cooling off period" so his next venture does not appear linked.
Speaking about the aborted re-launch of the airline at the end of last year, he said, "From the date of ownership transfer, we needed six weeks for flying. If the transfer happened, Jet would have been in the skies by mid-November".
The acceptance of an additional claim for payment after all the bankruptcy bills were sorted, threw up complications, he said, including multiple questions about whether it would be a recurring event.
Asked if it would more difficult for Jet to resume services now, in view of Tata's acquisition of Air India, he said India's potential is huge. India today has 700 commercial aircraft.
"Each of the three big airlines in China have 700. The three biggest airlines of the US have a 1000 each. If India grows at the rate it is growing, the 700 or 500 planes Air India has ordred will be far from sufficient," he added.