Jet Airways filed for bankruptcy proceedings in 2019 after suspending all flights.
Jet Airways was founded in 1992 and became one of India’s largest private airlines. It expanded rapidly, but rising fuel prices, intense competition, currency pressure, and unpaid obligations weakened its finances. The airline also faced difficulty securing fresh funding to maintain operations.
Jet Airways stopped flying on April 17, 2019, after lenders refused to provide further emergency financing. India’s insolvency process began soon afterward. A proposed revival by the Kalrock Capital and Murari Lal Jalan consortium received approval in 2021, but the airline did not promptly resume normal commercial service.
Jet Airways is distinct from Kingfisher Airlines, another major Indian carrier that stopped flying in 2012 after financial problems. Air India, meanwhile, continued operating and was sold to the Tata Group in 2022.