INDIA'S AVIATION SEC SEES CONSOLIDATION AS 7 AIRLINES CLOSE DOWN IN 5 YEARS

Many A320 neo aircraft equipped with PW1100G-JM engines manufactured by Pratt & Whitney & operated by major Indian airlines IndiGo

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As per the information provided by the Minister of State for Civil Aviation VK Singh in a written reply to the Lok Sabha, a total of seven airlines have been closed down in India over the last five years until July 21, 2023. Among these, two airlines, namely Heritage Aviation Pvt Ltd and Turbo Megha Airways Pvt Ltd, ceased operations in 2022. Three other carriers, Zexus Air Services Pvt Ltd, Deccan Charters Pvt Ltd, and Air Odisha Aviation Pvt Ltd, were shut down in 2020. In 2019, two prominent airlines, Jet Airways (India) Ltd and Jet Lite (India) Ltd, also closed down.

Jet Airways, a well-known airline in India, had obtained an Air Operator Certificate (AOC) on February 13, 2022. However, due to severe financial difficulties, the airline had to suspend its operations on April 17, 2019. Following its closure, Jet Airways underwent insolvency proceedings at the National Company Law Tribunal (NCLT) in Mumbai. Although the AOC was re-issued on May 20, 2022, the airline did not resume its operations, and the AOC eventually expired on May 19, 2023.