Quikjet Airlines (QO, Bengaluru International) has applied for the reactivation of its Air Operator's Certificate (AOC) under the new ownership of supply-chain mogul Cyrus Guzder, the Economic Times has reported.

Guzder used to be the airline's minority shareholder when it first launched in 2016. Back then, ASL Aviation Group (since renamed as ASL Aviation Holdings) controlled a 70% stake. However, prior to its restart, the carrier's ownership structure was revised to comply with India's control and ownership rules. As such, Guzder currently owns a 51% stake, while the Irish holding controls the remaining 49%.

"The e-commerce business is picking up with same-day, and next-day delivery is becoming prominent. So, ASL thinks this is the right time to re-enter the air cargo business, and we have applied for the licences," Guzder said.

ASL declined to comment on its Quikjet investment when contacted by ch-aviation.

The cargo specialist has already received the no-objection certificate and was on the way to receiving the AOC. It took delivery of the first B737-800(SF) in early August and expects a B737-800(BDSF) shortly.

"We are talking to all major aggregators, e-commerce, and express delivery companies. It is based on conversations with our business partners that we feel that a two-aircraft operation will succeed and help us to run a profitable business," Guzder explained.

The airline was founded in 2007 but only launched in 2016 with a single B737-400(SF). It suspended operations shortly thereafter in the wake of a government-induced overnight cash crisis. It has since been dormant.