What was once India’s most popular full-service airline is now struggling to stay afloat. The reins of Jet Airways, which is facing a debt of over $1 billion, now have been given to its lenders, led by State Bank of India. Its founder and chairman Naresh Goyal and his wife Anita stepped down from the board on Monday, paving the way for debt resolution.
The last few months have been extremely tough not only for the airline but also for passengers who chose to fly it. Non-payment of dues resulted in over 40 aircraft being grounded, leading to flight cancellations and soaring airfare. But with banks now taking over the airline and infusing money, are things starting to look up for the beleaguered airline and for passengers as well?
Read here a lowdown on what led to the downfall of Jet Airways and what could be the way forward.
28/03/19 Shipla S Ranipeta/News Minute
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The last few months have been extremely tough not only for the airline but also for passengers who chose to fly it. Non-payment of dues resulted in over 40 aircraft being grounded, leading to flight cancellations and soaring airfare. But with banks now taking over the airline and infusing money, are things starting to look up for the beleaguered airline and for passengers as well?
Read here a lowdown on what led to the downfall of Jet Airways and what could be the way forward.
28/03/19 Shipla S Ranipeta/News Minute
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