Updated: Mar 31, 2019
What the Hell? Naresh Goyal joins the King of Good Times in London
Another saga with devious twists and tales.
Too Big to Fail and Too Powerful to be accountable
The spectacular rise of Jet Airways in the Indian skies, was a story of inspiration, courage and daredevilry of dreams when they take off.
The airline, stared nearly 25 years ago by Goyal, who was a ticketing agent in a travel company is definitely a story of inspiration. Not only that, Jet Airways was doing exceedingly well too, until it started facing stiff competition from low cost, no-frills airlines like Indigo and Spice jet.
Of, more comments warrant a very detailed analysis and understanding. However, Jet Airways reported a loss of ₹636.45 crore in the year ended 31 March 2018, it had a gross debt of ₹8,425 crore.
As of yesterday, SBI has stepped in to rescue the airline from crashing.
Of the many threads, one can take up to write on the issue, is to wonder if it’s worth it to infuse 1500 crores of taxpayers money, in a failing airline.
if an airline which employs nearly 22,000 employees and runs many national and international flights fail, it will have ripple effects on other sectors too. With the hot summer of election season, this might just heat up the scenario even more. How the plan works out is definitely worth watching out for.
However, why was Naresh Goyal allowed to leave for London in such a hurry? Was that a part of the deal?
The party continues and good times will never end. Nirav Modi, Lalit Modi, Vijaya Mallaya and Narendra Goyal must be saying cheers!