Friday, November 19, 2021

From the horse’s mouth: What caused the crash landing of Jet Airways?

Jet Airways, India’s most successful private airline till date, crash landed due to financial troubles in April, 2019. The airline has since undergone resolution under the Insolvency & Bankruptcy Code (IBC). The new promoters have claimed it will be up and running in a new avatar soon.

But there are many unanswered questions. It is unclear what happened between the summer of 2019, when flights were grounded, and now that led to the demise of the airline. Who were responsible for bringing such a large company down to its knees? Could it have been saved with timely infusion of funds? Could lenders – State Bank of India (SBI) being the largest – have saved the airline?

So what really led to Jet’s fall? >>

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