There are various discussions about the future of Jet Airways and its employees, who have started shutting down their flights from India due to financial debt. People are giving their opinions on social media sites. Recently Aadi group decided to purchase 75% of the shares of Jet Airways.
A Twitter user named Lalit Mathpal suggested Anand Mahindra purchase Jet Airways. He did not reply directly to whether Mahindra would buy Jet Airways or not. But using a popular sentence in the English language, he made it clear to the users. “If you want to be a millionaire, start with a Billion dollars and then start (buy) an airline!”. It is evident from the tweet that Anand Mahindra is saying that landing in the airline industry is not wise and the peak time where many aviation companies in India are under huge debt just like Air India.
The answer to Anand Mahindra is well-liked by the people. Many have said that the decision of not spending in the airline industry is right. Many times Anand Mahindra has been very active on social media. He has also helped many through Twitter as well.
Bankrupted Jet Airways aviation company had already delayed its entire services in mid-April after banks refused to extend funding. Last month, the Mumbai bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition against Jet Airways and delivered the resolution professional for the airline to try to finish the process within three months.
Jet Airways Employee Consortium and Adi Group announced they would collectively bid for taking up to 75% stake in Jet Airways through the NCLT process. The joint statement dispatched that this is the commencement of a new day in the history of the Indian aviation industry. This will be the first time ever when the employee of an aviation company will own some shares of the aircraft.
The bankruptcy of Jet Airways shows the difficulty of earning money in India’s aeronautics sector, controlled by low-cost carriers such as IndiGo and SpiceJet. The Indian business is also extremely price-sensitive, and airlines, notwithstanding high fuel cost, strive to keep fares low.