Jet Airways crisis set to reset India’s aviation industry

Mumbai: Jet Airways (India) Ltd’s decision to halt operations from Wednesday evening for want of funds is set to rattle the world’s fastest-growing aviation market with its adverse impact on other businesses in the value chain as well as thousands of jobs.

The outcome would also have a ripple effect on competition, fares and customers as rival airlines scramble to fill up the vacancy caused by Jet Airways’ grounding.

In an attempt to mitigate the crisis, the Directorate General of Civil Aviation (DGCA) on Thursday met aviation industry executives and airport operators.