Jet Airways is the prime and foremost airline authority of India. Once upon a time in the country, Jet Airways stood in the front line of all the revolutionizing airlines. India is one among those countries whose economy in the industry of air travels is always upright and rising to its peak level, constantly. From such a situation wherein we could witness Jet Airways on the top and rocking all the time, we have arrived at a scenario where the situation has taken a different turn.
In anything and everything for that matter, challenges form the predominant part and that is how the world is. Right from the budget carriers to the abruptly surging fuel rates, almost everything in the industry is trying to shake the place owned by Jet Airways. The same is the reason for the airline hit the rock bottomand move down to a great extent.
In the market, the part of shares held by Etihad Airways, drove to 8.5 per cent. It all happened on Friday, at Mumbai. As soon as such a change in the share market and financial form took place, the brand pushed back on announcing lot about its first-quarter earnings. The stocks are witnessing and experiencing the lowest and dropped values as ever since 2015. It was from the month of June that year, the carrier’s costs and expenses are reducing while the risk factor pertaining to the responsibilities on the existing debt, are rising to a greater extent.
“Jet Airways is facing challenges on all fronts,” said the analyst, Rahul Kapoor from Singapore-based Bloomberg Intelligence. He continued by saying, “the rise in oil prices is having a double whammy on their earnings. They already have a sparse balance sheet compared with other Indian carriers.”
One of the most important consequences of the tough time that Jet Airways is facing in the industry, could be attempts to payback debts of INR 9,430 crore and more such equivalent amounts. Once a premium airplane is now facing difficulties in keeping up with the customer demands. Will it see the same fate as Kingfisher Airlines once did? Only time will tell!