Flying High Again: The Jet Airways Case And The Impact Of I.B.C. On The Aviation Industry

Upanshi Gada, Mumbai University, Maharashtra

ABSTRACT

The Jet Airways' shutdown is often considered as one of the biggest organisational failures to have occurred in the Indian subcontinent. garnered significant media attention, and its resolution under the Insolvency and Bankruptcy Code1 was a commendable achievement in the Indian Bankruptcy Landscape. This article aims to analyse the impact of the I.B.C, 2016 on the Aviation industry in India through the lens of the Jet Airways case. It commences by shedding light on airline insolvencies that occurred prior to the I.B.C and further explains the circumstances that led to Jet Airways insolvency along with the resolution measures that followed. Moreover, it elaborates on the impact of Jet Airways' bankruptcy on the aviation industry as a whole. Lastly, it emphasises the need for a separate Cross-Border Insolvency Law in India. It concludes with recommendations and highlights the importance of the I.B.C in resolving high-profile bankruptcy cases in the Indian Aviation Industry and its potential to improve the Ease of doing Business in the country.