The slow collapse of the Indian carrier, Jet Airways, seems to be finally coming to a close. The airline, that once held the biggest market share in all of India, has announced that it will be suspending all operations, international and internal, effective from tonight. This comes after years of financial struggles, failed investment from other airlines, and because of this they haven’t been able to pay the lease on their aircraft or the salaries of their staff, and accordingly have not been able to secure any emergency finances from banks or government investing, leaving the airline crippled and billions of dollars in debt. Despite all this, the airline still remains hopeful that they will be able to restart operations, saying that this is just a “temporary suspension” to their services while they secure “lifeline” funding, even though investment looks unlikely, having not turned a profit since Q2 of 2011.
“The Joy of Flying!” Jet Airways 1992-2019.
The airline industry is a savage market, so the question is who’s next?
Do you have any memories of jet airways?
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