After yesterday's refusal by lenders to infuse more funds, the end of Jet Airways could be way nearer than you thought. According to latest reports, he has now withdrawn his bid.Some of its lenders yesterday sought more pledged shares of Goyal and flights owned by Jet as collateral for more loans. The consortium of banks also remained sharply divided on additional debt to Jet.Jet is not the only airline in India to sink in such fashion, though. So even as India was turning into global aviation's poster boy, one after another of the country's airlines was falling out of the sky.The most notable case, of course, was Kingfisher. Among them were Archana Airways (drowned in 2000), Modiluft (1996), Damania Airways (1997), NEP (also 1997), East West Airlines (1996) and Vayudoot (1987).There also was the Air Sahara case.

Source: Economic Times April 16, 2019 06:29 UTC