Key Points
While the rapidly growing Indian aviation sector offers ample opportunities for private carriers to launch operations, it remains an unforgiving space, considering the number of airlines that have been forced to shut shop due to financial troubles...
Read what airline said. Over the years, many private airlines including big names like Jet Airways have ceased operations due to financial difficulties arising out of increased competition and rising operational costs...
Having said that, lets have a look at some of the prominent Indian airlines that ceased operations after running into financial turbulence...
While the airline cited 'technical glitches' for airport executives, people close to the airlines cited deeper financial problems.. Severe cash problems, non-payments to lessors, and maintenance providers were cited as key reasons affecting the operations of Air Pegasus...
However, in April 2020, the airline became the first Indian aviation company to succumb to the coronavirus pandemic, as the airline stopped operations until further notice and all employees were put on sabbatical without pay...
