Jet Airways Liquidation: Jet Airways, one of India's largest and most prestigious airlines, has now stopped flying forever. The journey of this airline, which served passengers for 25 years, has now ended at a new turn. The Supreme Court has ordered its liquidation, which means that Jet Airways will never be able to fly again.

Officially ceased operations

In 2019, Jet Airways temporarily shut down its operations due to its debt and financial crisis. At that time, the airline had a debt of Rs 8,500 crore and thousands of crores of rupees were owed to passengers as refunds. Then in 2021, an attempt was made to run Jet Airways again under the insolvency resolution process, but that attempt also failed due to continuous disputes and lack of agreements.

Supreme Court ruling

The Supreme Court has now approved the liquidation of the airline. This means that the revival of Jet Airways is no longer possible. The court took this decision when the resolution of the company remained a failed attempt and the insolvency process going on against the company was terminated. Along with this, all hopes regarding the future of the airline also ended.

What is the liquidation process?

Liquidation is the process in which the assets of a company or organization are sold and its debts and liabilities are paid off. When a company becomes financially incapable or has to be closed, the process of liquidation begins. In this, after paying off all the debts and other dues of the company, the remaining assets are distributed among the shareholders. The purpose of liquidation is to end the financial crisis of the company and pay its creditors fairly. This usually happens by court order.

What has Jet Airways lost?

Jet Airways was launched in 1993, and very quickly became a dominant player in the Indian aviation market. At one point, it had more than 120 aircraft and around 20,000 employees. But debt, non-payment of salaries to employees, and mismanagement led to a financial crisis. When Jet Airways shut down operations, millions of passengers were left without dues and the future of thousands of employees became uncertain.

Image and losses of Jet Airways

Today the name of Jet Airways has become a sad memory for hundreds of employees, passengers and the aviation sector, who once considered it one of the best airlines of India. Its closure not only caused damage to the aviation industry, but also caused huge financial losses to employees and passengers.

It is worth noting that the crisis of Jet Airways has become a sad story of Indian aviation. This airline once ruled the skies of India, but now it has ceased to exist due to financial crisis and wrong decisions. Its closure has given a big blow to the Indian aviation industry, and with it the dreams of thousands of people have been shattered.