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TOPIC : FROM RICHES TO RAGS : JET AIRWAYS
JET AIRWAYS WAS THE LARGEST AIRLINE IN INDIA. BUT THESE DAYS , THE SITUATION IS NOT IN THE FAVOR OF JET AIRWAYS. THE AIRLINE HAS SUSPENDED ALL THE INTERNATIONAL FLIGHT AND WILL SOON GOING TO BE A BANKRUPT. BUT THIS AIRLINE WAS ONE OF THE PRIOR PRIVATE AIRLINE OVER THE SUB CONTINENT. LETS EXPLORE THEIR JOURNEY AND DISCOVER THE TRANSFORMATION FROM RICHES TO RAGS.
JET AIRWAYS WAS FOUNDED ON 1st APRIL 1992 BY NARESH GOYAL. NARESH GOYAL WAS INITIALLY THE TRAVEL AGENT IN A TRAVEL AGENCY. AFTER GRADUATING IN COMMERCE, HE JOINED SOME OF THE PRIVATE AIRWAYS AND THEN ESTABLISHED HIS OWN COMPANY NAMED JET AIR WITH THE HELP OF AIR FRANCE AND AUSTRALIAN AIRLINES.
THE JET AIR STARTED AS AN AIR TAXI IN 1993 FROM BOMBAY TO AHMEDABAD. BY 1995, THEY EXPANDED THEIR AIRLINE AND WAS GRANTED SCHEDULED AIR SERVICE OVER THE GLOBE. THEY WERE REGARDED AS A PROPER AIRLINE , SO THEY STARTED FORMING ALLIANCES WITH PRIVATE COMPANIES . THEIR FIRST ALLIANCE WAS WITH KLM , A EUROPEAN COMPANY FOR MARKETING SUPPORT.
I WOULD LIKE TO END BY SAYING THAT IT IS THE TIME TO SEE THE AVIATION INDUSTRY BOOMING SO BE IT JET AIRWAYS OR ANY OTHER AIRLINE , ALL MUST WITHSTAND THE TOUGH TIMES. THE FAILURE OF 1 AIRLINE COULD SNATCH THE JOBS OF MANY ASSOCIATED WITH IT.
THANK YOU FOR SPENDING YOUR VALUABLE TIME AT analytIQ.
HARSHIT
TOPIC : FROM RICHES TO RAGS : JET AIRWAYS
JET AIRWAYS WAS THE LARGEST AIRLINE IN INDIA. BUT THESE DAYS , THE SITUATION IS NOT IN THE FAVOR OF JET AIRWAYS. THE AIRLINE HAS SUSPENDED ALL THE INTERNATIONAL FLIGHT AND WILL SOON GOING TO BE A BANKRUPT. BUT THIS AIRLINE WAS ONE OF THE PRIOR PRIVATE AIRLINE OVER THE SUB CONTINENT. LETS EXPLORE THEIR JOURNEY AND DISCOVER THE TRANSFORMATION FROM RICHES TO RAGS.
JET AIRWAYS WAS FOUNDED ON 1st APRIL 1992 BY NARESH GOYAL. NARESH GOYAL WAS INITIALLY THE TRAVEL AGENT IN A TRAVEL AGENCY. AFTER GRADUATING IN COMMERCE, HE JOINED SOME OF THE PRIVATE AIRWAYS AND THEN ESTABLISHED HIS OWN COMPANY NAMED JET AIR WITH THE HELP OF AIR FRANCE AND AUSTRALIAN AIRLINES.
THE JET AIR STARTED AS AN AIR TAXI IN 1993 FROM BOMBAY TO AHMEDABAD. BY 1995, THEY EXPANDED THEIR AIRLINE AND WAS GRANTED SCHEDULED AIR SERVICE OVER THE GLOBE. THEY WERE REGARDED AS A PROPER AIRLINE , SO THEY STARTED FORMING ALLIANCES WITH PRIVATE COMPANIES . THEIR FIRST ALLIANCE WAS WITH KLM , A EUROPEAN COMPANY FOR MARKETING SUPPORT.
- REASONS BEHIND THE BURST -
- COMPETITION FROM LCC - WITH THE RISE OF LCC FROM SPICEJETS AND INDIGO, IT MADE A DIFFICULT SITUATION FOR AIRLINES. THE FIRST WAVE OF LOW COST CARRIER IN INDIA SUCH AS AIR DECCAN FIZZLED OUT THROUGH THE ABSORBTION INTO KINGFISHER . NOW THERE ARE THE LIKES FOR INDIGO AND SPICEJETS THAT SEEMS TO UNDERSTAND THE INDIAN FLYER MUCH BETTER. SOON THEY ARE ALSO SEEKING TO CONNECT THEIR PATH TO ABROAD, WHICH WILL FURTHER THREAT THE ROYAL CARRIERS.
- POOR FLEET ACQUISITION - JET AIRWAYS WAS SUFFERING FROM POOR DECISION WITH REGARD TO ITS ACQUISITION OF WIDEBOY AIRCRAFT FOR A LONG TIME .THEY DID NOT HAVE THE NETWORK AND VOLUMES TO THESE AIRCRAFTS IN AN ECONOMICALLY VIABLE MANNER.
I WOULD LIKE TO END BY SAYING THAT IT IS THE TIME TO SEE THE AVIATION INDUSTRY BOOMING SO BE IT JET AIRWAYS OR ANY OTHER AIRLINE , ALL MUST WITHSTAND THE TOUGH TIMES. THE FAILURE OF 1 AIRLINE COULD SNATCH THE JOBS OF MANY ASSOCIATED WITH IT.
THANK YOU FOR SPENDING YOUR VALUABLE TIME AT analytIQ.
HARSHIT
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