From Jet Airways flight to crash landing, this is what the journey has been like so far

The journey of Jet Airways started in the year 2007. The chairman of Jet Airways was Naresh Goyal. It is believed that airlines allow passengers to enjoy air travel at low charges. The situation of the country's largest private airline company has now worsened. Due to the poor financial condition of the airline, the company's chairman Naresh Goyal has resigned.

Many people believe that due to some wrong decisions of the company's chairman, the company is today buried under debt. Naresh Goyal bought Sahara Airlines for about Rs 1450 crore. This is considered the biggest deal in the airline sector. After this deal, the company will have to face many difficulties like financial, legal, and HR. Come, let us know due to which the company has sunk.

The company had bought Sahara Airlines to defeat Deccan Airways, Indigo, and Spicejet. After this, the company ordered many planes. There were very few seats in the planes that came after the order. Because of this, the company had to face losses. Apart from this, there were 8 first class seats in the company's plane, many times these seats are not even booked. Because of this, many times there was a lot of space left in the plane and the company was incurring losses due to low bookings.

Many people believe that the company chairman did not trust the officers and employees. In such a situation, the officers appointed to run Jet Airways were not able to make any decision. Naresh Goyal used to make all the decisions of the company. When the company started getting burdened with debt, the chairman of the company met his financial advisor Deepak Parekh. Naresh Goyal also ignored the suggestion given by Deepak.

After a few years, Tata Group proposed to buy Jet Airways. Naresh Goyal does not agree to this proposal also. In such a situation, Tata Group withdrew its hands. The result was that the company was further burdened with debt.

An FIR was registered against the company in the year November 2022. This FIR was filed by Canara Bank officials against Jet Airways' Naresh Goyal, Anita Goyal, Gaurang Anand Shetty, and many others. After this, the chairman of the company was called by ED. Today, a fraud case has been registered against many people including Naresh Goyal.

The company always provides facilities to a large section of the society. The company's air tickets were expensive compared to other airlines. This was also one of the reasons why customers used to choose other airlines instead of Jet Airways. In such a situation, the company had to face losses ranging from Re 1 to 50 paise on one seat. Because of this, the company reached losses every day. The impact of the company's financial loss was also seen in the company's shares. At the time of writing the news, Jet Airways Share Price was trading at Rs 53.75 per share.

According to several media reports, Jet Airways has taken loans from 25 banks. The company is still burdened with a debt of Rs 8,500 crore. The company had made a cash deal while purchasing Sahara Airlines. Jet Airways was grounded on 17 April 2019 after the company did not pay the lease rent. Now money laundering cases are pending against the chairman of the company.