By Chinmay Narang

Since the dawn of the industry, the airline business has been infamously known for shrinking fortunes. According to a Bloomberg report, the market value of 10 largest, publicly traded airlines have fallen in value by $14 billion since the beginning of the year. Undoubtedly, the Coronavirus Pandemic is a leading factor accountable for this downfall. But numbers did not seem very pleasant for the airline industry before the global pandemic either.

Jet Airways ceased its operations in April, 2019 after a failed previous year and an imprudent amount of dues on its Financials. It became the first airline to be registered under Insolvency and Bankruptcy code, 2016. The recent Kalrock deal was seen as a ray of hope for the failed airline in the market this week. But the main question remains that will Jet Airways be able to spread its wings again? Can the management turn things around for Jet Airways and disprove the quote by Richard Branson? Or will the airline continue to show that the industry is indeed a millionaire making factory if one is already a billionaire?