Putting an end to the five-year-long saga of reviving Jet Airways, the Supreme Court directed the liquidation of the airline after a consortium of UK-based Kalrock Capital and the UAE-based entrepreneur, Murari Lal Jalan, failed to implement its resolution plan. Liquidation is the process of closing a business and distributing its assets to claimants: the sale of assets is used to pay creditors and shareholders in the order of priority. The personnel across various functions such as finance, accounts, aircraft leasing, Treasury, commercial, fleet planning and fleet management, operations, spares provisioning and procurement, regulatory, interline and code share are the most affected when an airline is liquidated, particularly the senior management, because of the limited vacancies with the existing airlines. “Proactive approach, professional management, hiring of industry experts, financial prudence and management, good asset management of aircraft, sticking on to the LCC or FSC model are the mantras to prevent failure of an airline,” said Amit Ranjan Mittal, an aviation expert, with experience across aviation strategy, planning and management, aircraft leasing and financing, aviation banking, airport management and aviation consulting.
This story is from the December 2024 - January 2025 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2024 - January 2025 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
