Out of cash and desperate: Jet Airways may stop flying

Jet Airways had grounded dozens of aircraft over the past few weeks as its finances deteriorated

Jet Airways, which revolutionized Indian aviation after the government ended the monopoly of state-owned carriers, is now on the brink of shutting down, devastated by management missteps and the feisty low-cost airlines that followed in its footsteps.

Out of cash and desperate for a buyer, Jet is now operating just nine planes, according to the Press Trust of India, down from 123 at its peak. The company had grounded dozens of aircraft over the past few weeks as its finances deteriorated, and on Friday, it canceled its last remaining international flights through at least Monday, upsetting the plans of travelers