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Jet Airways insolvency: A look at torturous negotiations, threats, claims that led to resolution
Synopsis
Jet, once the ruler of Indian skies, was run to the ground because of acute competition from low fare carriers, a high cost structure, various legacy issues and a convoluted product offering.
Five days after Ashish Chhawchharia took over as the resolution professional of Jet Airways in June 2019, he found himself and the airline’s employees locked out of its office by the property's owners due to non-payment of dues.When he got in, he found the IT access, including that to the airline’s digitally maintained accounts, cut off as the service provider hadn’t been paid.It took three months of initial legal negotiations for Chhawchharia
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