Jet Airways: The Final Flight to Liquidation

Jet Airways once a dominant player in the Indian aviation sector, is set for liquidation following a Supreme Court ruling. The airline's operational halt in 2019 left over 20,000 employees jobless and creditors in huge financial distress. Founder's revival attempts fell through, eventually leading to this grim conclusion.

In a decisive legal development, the Supreme Court has ordered the liquidation of Jet Airways, marking a definitive end to over 25 years of the airline's history. This ruling ends all hopes for revival after several failed insolvency resolutions.

Jet Airways, which soared high as a full-service airline, had its operations grounded in April 2019 due to crippling debts and operational challenges. With this liquidation move, more than 20,000 employees face lingering uncertainties.

The apex court's order comes after ruling out the Jalan Kalrock Consortium's failed attempt to revive the airline under the insolvency resolution. The past years have seen hopes dashed, and thousands of crores owed to banks and vendors remain outstanding.

(With inputs from agencies.)