The scenario in the Indian aviation industry can be likened to a ‘tamasha’. The normal rules of business don’t apply here. No sooner does an airline reach the top that it begins its descent.
The list of such airlines show that the aviation sector is in dire need of basic and structural reforms. Jet Airways, which had taken over the mantle from Air India as the country’s leading airline, both domestically and globally, went down in a haze of financial losses and gross mismanagement.
It was following in the footsteps of Kingfisher, another market leader that sank without a trace, with its main promoter turning fugitive. Now the story is repeating itself. Read More