A STUDY ON THE CAUSES OF FINANCIAL CRISIS IN THE INDIAN AVIATION INDUSTRY WITH SPECIAL REFERENCE TO – KINGFISHER AIRLINES

India is a country where Air Travel in the early 90's was a luxury, wherein the masses couldn't even think of air travel the fares as it was very expensive. Even the Indian Aviation Industry wasn't up to that standard of other countries when Mr.Naresh Goyal entered the aviation industry with his new baby Jet airways on 1st April 1992 to change the portrait of the industry as he had good knowledge of the working of the industry. Goyal was the person who changed the image of Indian Aviation industry in the global map by creating new routes he also gave prominence to his pilots, technicians & airhostess by giving them good pay package. He made the air fares reasonable in comparison to its competitors. Jet Airways has been through a lot of ups and downs in the process. In addition to Jet Airways, there were many airlines which could not perform well In the Indian Aviation Industry. Tata Airlines (now known as Air India), Sahara Airlines (later known as Jetlite), Kingfisher Airlines are to name a few. The present paper is trying to look into the root causes of the financial crisis of these airlines