Mergers and liquidations reshape India's turbulent aviation sector

It's an eternal mystery. Aviation is one of the world's most precarious businesses, yet it continues to attract investors

On November 7, the Supreme Court passed an order liquidating Jet Airways, three decades after it took wing and raised the bar on service standards in domestic aviation. Five days later, 11-year-old Tata-owned Vistara, the airline that was considered Jet’s successor in service values, flew into the sunset following a merger with Air India.

 

Both events — a bankruptcy and a merger — reflect the rollercoaster fortunes of the Indian aviation industry ever since the government announced its “open skies policy” in April 1990. Since then, India has seen almost 45 airlines turn defunct — most of them ceasing operations