Jet Airways, pioneer of the Indian sky, could stop flying

MUMBAI, India – Jet Airways, which revolutionized Indian aviation after the monopoly of state-owned carriers was lifted, is about to shut down, devastated by management mistakes and low-cost airlines. followed it.

Without money and hopelessly looking for a buyer, Jet now operates only nine aircraft, according to the Press Trust of India, against 123 at its peak. The company had immobilized dozens of aircraft in recent weeks due to the deterioration of its finances. She canceled her last international flights at least Monday, disrupting travelers' plans between London and Hong Kong.

"The airline's management and key stakeholders, including its consortium of lenders, continue to work closely together to resolve the current situation," the company said in a statement. "Jet Airways regrets the inconvenience to its customers."

The prospects are dark.

"I do not see how it would be possible to reactivate it in this form," said Harsh Vardhan, chairman of Starair Consulting's board of directors and former chief executive of Vayudoot, a region-owned Indian airline that Closed two decades ago. "He must die of his own death before he can get a strategic buyer."

The more than 1,000 domestic pilots of the company, who have not been paid for three months, have threatened to stop working Monday, unless they receive their salary arrears. There is no money to pay them.

Naresh Goyal, a former travel agent, founded Jet 26 years ago. It has become the largest Indian carrier offering travelers a modern and efficient alternative to the poor service and unreliable schedules of government-owned carriers. But with the emergence of a new generation of low-cost airlines, Mr. Goyal has failed to adapt and has borrowed heavily to try to keep Jet as a premium carrier.

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