The grounding of Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation’s biggest airline.
Jet, which previously had a fleet of around 120 largely Boeing Co planes, was forced to indefinitely halt all flight operations on April 17 after its banks rejected the carrier’s plea for emergency funds. The carrier’s descent into crisis has benefitted international airlines in the form of rising fares and demand, data showed.
Fares from India to cities such as Dubai, London, New York, Singapore and Bali in the first quarter of 2019 rose between 4% and 32% from a year ago, according to travel portal MakeMyTrip.
