In the past decade, India witnessed grounding of two of its premiere airlines — Kingfisher and Jet Airways. Both used to provide five-star services to their respective customers, both melted down after their debt became unsustainable.

But the similarities don’t stop here. The trajectory of descent for both the airlines has been more or less similar: it all started with a high-cost acquisition of a competing airline by over-aspirational founders. The only difference was that Jet –…

However, in the garb of increasing their market share, both failed to realise that the aviation industry runs on wafer-thin margins. As the low-cost no-frills carriers, like IndiGo and SpiceJet, came up with cheaper prices, the premium airlines like …

To sustain its operation, Jet was able to manage a deal with Etihad Airways in late 2013, wherein, Goyal ceded 24% of his stake to Etihad for a sum of $379 million. However, since then the company’s market value has continuously eroded along with the…


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