Jet Airways' temporary closure, sad day in business of flying: AI chief Ashwani Lohani

The temporary closure of Jet Airways is a setback for Indian aviation and a sad day for all those in the business of flying, Air India CMD Ashwani Lohani said Wednesday. With lenders not extending emergency funds, cash-starved Jet Airways, which has been flying for over 25 years, Wednesday announced a temporary suspension of operations.

"While sustained mismanagement definitely contributed, the fact remains that in the entire aviation eco-system, it is the airline that invariably remains at the receiving end while all other stakeholders make money," Lohani said in a Facebook post. According to him, it is a sad day for all those in the business of flying in the country to witness a fine airline closing shop.

"We have in the past witnessed many airlines shutting shop and it is time to appreciate that the razor-thin margins which airlines are forced to operate within a competitive environment, results in a scenario that encourages unsustainability," he noted. Lohani, who is helming state-owned Air India for the second time, also said the issue has no easy solutions, yet a solution would need to be found.

Air India, Jet Airways and Vistara are the only three full-service carriers in the country.