Jet Airways is an Indian airline headquartered in Mumbai, Maharashtra. Founded by Naresh Goyal, it began operations as an air taxi service in 1993 and grew into one of India's largest private full-service carriers, operating domestic and international routes from its main hubs at Chhatrapati Shivaji Maharaj International Airport, Mumbai, and Indira Gandhi International Airport, Delhi. The airline suspended operations in April 2019 amid a financial crisis and has since been undergoing insolvency and revival proceedings.
| Name | Jet Airways |
|---|---|
| Industry | Aviation (commercial airline) |
| Founder | Naresh Goyal |
| Founded | 1992 (incorporated); commercial operations from 1993 |
| Headquarters | Mumbai, Maharashtra, India |
| Primary hubs | Mumbai, Delhi |
| Country | India |
| Status | Operations suspended in April 2019 |
Naresh Goyal, who had earlier worked as a general sales agent for several foreign airlines through his firm Jetair, established Jet Airways following the liberalisation of Indian aviation in the early 1990s. The airline was set up to take advantage of the air taxi scheme that allowed private operators to fly scheduled services within India. After the air taxi scheme was replaced by full scheduled airline status in 1995, Jet Airways became one of the principal private competitors to the state-owned Indian Airlines.
At its peak, Jet Airways operated a wide domestic network covering most major and several smaller Indian cities, alongside international services to destinations in Asia, Europe and North America. The fleet historically comprised Boeing 737 family aircraft for short and medium-haul routes, Boeing 777-300ER and Airbus A330 aircraft for long-haul operations, and ATR 72 turboprops for regional services. Brussels Airport in Belgium served for several years as the airline's primary European hub before operations were shifted to Amsterdam.
By 2018, Jet Airways was reporting heavy losses driven by high fuel prices, a weakening rupee, intense competition from low-cost carriers such as IndiGo and SpiceJet, and a heavy debt burden. Salary payments to pilots, engineers and other staff were delayed, and aircraft were progressively grounded as lessors withdrew planes. After lenders declined an emergency funding tranche, the airline halted operations on 17 April 2019. Insolvency proceedings followed at the NCLT, with the Jalan-Kalrock consortium subsequently selected as the successful resolution applicant. Implementation of the resolution plan, including transfer of assets and recommencement of flying, has been the subject of prolonged litigation.
Jet Airways played a defining role in the modernisation of Indian commercial aviation. It was widely regarded as a pioneer of full-service private airline operations in India, setting standards for in-flight service, scheduling reliability and international connectivity at a time when the sector was dominated by the public-sector Indian Airlines and Air India. Its collapse in 2019 was one of the largest corporate failures in Indian aviation and prompted significant regulatory and policy attention to airline financial health, slot allocation and lessor protections.