Jet Airways Crisis
As it is already known to us that Jet Airways recently declared that the temporary shutdown of its services in April 2019. They are unable to operate the company due to a lack of funds. The airline is under a debt of Rs 8500 crores. So banks are not ready to release more funds to the company. Since January 2019, Airlines has not paid salaries for the staff since January 2019. Jet Airways was the second-largest airline in India till recently now in a crisis. REASONS BEHIND THE CRISIS: To get a position in the tough competition, they started offering tickets at a low price to cope up with the competition. Jet Airways is a full-service airline, it offers meals and other comforts in the ticket price. Since 2000, low-cost airlines have come to market. These low-cost carriers will charge customers for meals and extra services. Some low-cost airlines have a second source of income such as advertising. In the year 2007, when Air Sahara was in crisis, Jet a...