New Delhi. Despite all the efforts, finally, another aviation company in the country has now closed down forever. All the hopes of this company, which was once among the largest private airlines in India, ended after the order of the Supreme Court on Thursday. Earlier it seemed that by the end of the year 2024, the planes of this company would be seen in the sky again, but this did not happen and now the order has come to close this company, called the 'Queen of the Sky', forever.

In fact, on Thursday, the Supreme Court overturned the order of the National Company Law Tribunal (NCLT) and gave the decision to sell the assets of Jet Airways. Till now, efforts were being made to acquire this company by Jalan Kalrock Consortium and it was believed that the deal would be completed by December 2024. But, the bench led by the Chief Justice of the apex court has ordered to repay the loan of the banks by selling the assets of the company.

Jet Airways was
once known as the 'Queen of the Skies'. In terms of luxury flights, it was far ahead of the then-government airline Air India. You will be surprised to know that in February 2016, the market share of this company reached 21.2%. This means that 21.2% of air passengers in India used to avail of the services of this company only. This company used to operate 300 flights daily to 74 cities in the country and abroad and was counted among the largest private airlines in the country.

You can also guess the success of Jet Airways with more than 16 thousand employees
from the fact that in the year 2017, 16,015 employees were associated with this company. This company, which started in the year 1992, got itself listed on the stock market in 2005 and 2007. Earlier, by acquiring Air Sahara of Sahara Group, it became a strong airline company in the Indian domestic market.

Jet Airways, known for its luxury facilities and services, started facing tough competition
from budget airlines like SpiceJet and Indigo in 2016. Finally, in 2017, the company came second in terms of market share and Indigo grabbed the first position. From here, the losses of Jet Airways started increasing, as the company continued to incur losses in front of budget flights.

The downfall that started in 2019,
the series of losses that started in early 2017 had taken a terrible form by 2018. Due to the decrease in the company's earnings, it started failing to repay the loan installments and finally, it was declared bankrupt in April 2019. The company's founder and promoter Naresh Goyal was put in jail and flights were stopped. After this, for 5 years, many efforts were made to bring the company back to the skies, but all failed. Now after the Supreme Court's decision, Jet Airways will just become history.