Airlines that went bust
The last couple of weeks almost all the newspapers and websites have published articles about low-cost airline SpiceJet - its quest for investors to raise funds, fleet reduction, mass flight cancellations and its mountain of unpaid dues.
Troubles for the airline seem to have piled up and it remains financially strapped.
The latest we have from the air carrier, part of the Kalanithi Maran-led Sun Group, is the cancellation of a total of 1,861 flights, a few to Kathmandu in Nepal and all others connecting domestic cities, till December 31, which SpiceJet said in an update on its website.
I'm sure its current management is trying its best to manage the crisis and I wish them luck.
No one - the industry, the government, the flying public, you or me - wants to see another airline go the Kingfisher way.
The way things have developed holds some lessons for promoters and management of airlines - indeed any business - in India, although the string of airlines that have pulled down the shutters in the past - Damania, East West, Modiluft, MDLR, Paramount, NEPC, Kingfisher - should have taught them some already.
Text: Anjuli Bhargava, Business Standard
Image courtesy: Reuters