Kingfisher, Jet Airways, Go First: lessons from the demise of India’s private airlines
Eduardo Saverin
Promoters of three bankrupt airlines: Kingfisher’s Vijay Mallya, Jet Airways’ Naresh Goyal, and Go First’s Nusli Wadia. Goyal was sent to jail this month; image credit: Illustration by Sadhana Saxena
Synopsis
Airline failures put a permanent blemish on the reputation of their promoters. But what really matters is the extent of damage such incidents cause to all stakeholders and taxpayers. Detecting weakness well in advance and taking measures to prevent collapses is the only solution.
Around a decade-and-a-half back, at the world’s largest biennial aviation trade fair, the Paris Air Show, plane maker Airbus had organised a gala event for top airline executives. In attendance were Jet Airways’ founder Naresh Goyal and Kingfisher Airlines’ Vijay Mallya. As Mallya reached the luxurious chalet, he noticed that a placard with Goyal’s name was placed on a table in the front row while he had been given a seat just behind it. Without
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