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Downfall Timeline: How Jet Airways Collapsed

| Published on April 20, 2019

More than success stories it is failure case studies that help us grow more as a businessman as one can learn from the mistakes others did and avoid them. Jet Airways has been the talk of the town from the past few days for all the wrong reasons. The company has stopped its operations because of the dept and even its share value dropped 34 percent intraday on Thursday. Employees are protesting, passengers are having trouble and competitors are looking the make the most of this situation.

Source

Let’s get know how the Airline which was considered as India’s second-largest carrier by market share fell in last one year from a table made by QZ.com

When What
March 2018 Jet Airways reported a loss of Rs1,036 crore in the Jan-March quarter because revenues declined and costs increased significantly. The company postponed the March salaries of some employees due to “circumstances beyond its control.”
April 2018 Calls for bidding for Air India
May 2018 The government refused to approve Jet’s merger with JetLite.
June 2018 New check-in baggage norms announced. The 15kg of free check-in luggage for economy class said to be in one bag. Business class passengers allowed to carry 30kg in two bags.
August 2018 A 25% pay cut for employees announced.
August 2018 Indefinitely defers announcement of financial results for the April-June quarter of the financial year 2019.
August 2018 On Aug. 12, the Directorate General of Civil Aviation announces an audit to assess Jet’s financial health. State Bank of India asks the firm to provide enough collateral for emergency funding.
August 2018 On Aug. 27, the company announces losses of Rs1,323 crore for the April-June 2018 period.
September 2018 On Sep.19, the income-tax department conducts surveys in the company’s Mumbai and Delhi offices over allegations of financial misappropriation.
September 2018 The next day (Sep. 20), around 30 passengers on a Jet Airways flight from Mumbai to Jaipur suffer nose and ear bleeding after the cabin crew forgets to activate the internal pressure control. India’s civil aviation minister Suresh Prabhu orders a safety audit of all airlines and airports.

Also Read:What Impact Jet Airways Fall Will Have On The Indian Aviation Sector

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