Soon After Take-off, These Indian Air Carriers Halted Operations Recently, Go First Airline filed for bankruptcy. This is not an isolated case as several previous Indian airlines had to shut operations due to financial reasons. From Jet Airways, Kingfisher Airlines to Paramount Airways, the list is long

The recent developments in the Indian aviation industry might not be the best news for flyers. Although India has emerged as one of the leading aviation markets globally, the sector has often been plagued by uncertainties. Recently, Go First Airline, which filed for bankruptcy, announced that its flight operations will remain canceled until 9th May due to operational reasons. Go First's voluntary insolvency proceeding plea was heard at the National Company Law Tribunal (NCLT) and the airline blamed it on jet engine maker Pratt & Whitney (P&W) for grounding half of its fleet, along with COVID-19 restrictions, for this situation.

Well, this is not an isolated case as several previous airlines had to shut operations due to various reasons.

Jet Airways

The Naresh Goyal-founded airline, which was once the biggest carrier in India that started flights in 1995, halted operations on April 17, 2019, due to rising financial liabilities. The airline was taken to bankruptcy proceedings by its lenders soon after. A consortium of London-based Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan emerged as successful bidders in the Jet Airways insolvency resolution process. Though Jet Airways is committed to revival, recent developments are not in its favor. Sanjiv Kapoor, Chief Executive Officer-designate for Jet Airways, departed the company effective Monday, May 1, on the conclusion of his notice period. The NCLT-defined deadline of 180 days for the Jalan-Kalrock Consortium (JKC) to pay the creditors and employees of the erstwhile Jet Airways will get exhausted soon even as the issue of ownership transfer of the airline lingers on.

Kingfisher Airlines

Liquor baron Vijay Mallya launched Kingfisher Airlines Ltd in May 2005. It was a five-star airline that offered a premium first-class service on domestic routes. Until December 2011, Kingfisher Airlines had the second largest share in India's domestic air travel market. However, the airline ran into continuous losses since its inception, ran high debts and finally closed its operations on 20 October 2012: Kingfisher Airlines suspended its operations after its licence was suspended by the Directorate General of Civil Aviation after it failed to address the Indian regulator's concerns about its operations.

Air Costa

Air Costa was owned by Indian business company LEPL Group. A regional airline headquartered in Vijayawada and based out of Chennai International Airport. The airline commenced operations in October 2013 with the first flight taking off from Chennai. It focused on connectivity between tier II and tier III cities in the country. The airline received a permit for pan-India operations in October 2016. However, on 28 February 2017, Air Costa suspended operations until further notice stating financial difficulties regarding lease of aircraft.

Sahara Airlines

Sahara India Airlines was established on 20 September 1991 and began operations on 3 December 1993 with two Boeing 737-200 aircraft as part of the major Sahara India Pariwar business conglomerate. Sahara India Airlines was rebranded as Air Sahara on 2 October 2000. Jet Airways announced its first takeover attempt on 19 January 2006 and eventually after the takeover was officially completed Jet Airways announced that Air Sahara will be renamed as Jetlite. On 17 April 2019, JetLite grounded all of its flights and ceased all operations, in tandem with its parent company, Jet Airways.

Deccan Airways

Deccan Airways Limited was a commercial airline based at Begumpet Airport in Hyderabad. Founded in 1945, it was one of the nine airlines existing in India during independence. The airline was a joint venture of Nizam Government of erstwhile Hyderabad State and Tata Airlines: 71 per cent of Deccan Airways was owned by the Nizam's Government and the rest was owned by Tata Sons and others. In 1953 Deccan Airways Limited along with seven other airlines under the Air Corporations Act were merged to form a single domestic carrier, Indian Airlines.

Paramount Airways

Paramount Airways was based in Chennai, it started operations in October 2005 with the company headquartered in Madurai. The airline mainly targeted business travelers until it ceased operations in 2010. It operated to regional destinations in south and eastern India, its hub was Chennai International Airport and It was the first airline in India to launch the New Generation Embraer 170/190 Family series aircraft. The airline ceased operations when legal issues arose between Paramount Airways and the lessors of their Embraer aircraft. In November 2010, it was announced that Paramount Airways was set to resume services, however, it did not materialize.