NEW DELHI: From being the second largest domestic airline for years, Jet Airways officially slipped to the fourth slot in February due to its cash problems, with SpiceJet and Air India overtaking it, data released by Directorate General of Civil Aviation (DGCA) on Wednesday showed.
Now, one in nine Indian passengers flies Jet that ruled the skies until private sector rival IndiGo and the now defunct Kingfisher appeared on the scene in 2005-06. At its peak, it accounted for lion’s share of the domestic market with founder and chairman Naresh Goyal being the king of the aviation sector. But his inability to bring money on the table has resulted in a steep descent of Jet in the aviation sweepstakes.
With bank accounts running empty, Jet’s fleet is now down to 41 from 119 as unpaid aircraft lessors started repossessing their planes.
