MUMBAI, April 19 -- Awave of nostalgia greeted the news of Jet Airways' grounding after banks (which now own it) preferred to wait for its sale instead of pumping in more money.
In truth, the airline, which turned 25 last year, has been, for at least a decade, unrecognisable from the one that delighted Indians with its service standards in the 1990s and the early 2000s. Indeed, until it hit an air pocket of its own, rival IndiGo's service quality was better, and usually cost less. That there are bidders for the airline, including a foreign airline which is already a significant shareholder (Etihad), and a private equity firm (TPG), is heartening, especially because, with ~8500 crore of debt that needs to be paid off, and more money needed ...