The saga will be over Jet's employees get paid and Jet's shiny new jets are dusted off from storage
The cash infusion will only give short term relief.
Well EY should hopefully have some type of plan. They wanted "control" of Jet. Now they have it. EY dropped SF and their afternoon flight to JFK. I wonder if they can work with DL and figure something out. Now with EY in control will HYD-EU, BLR-LHR, BLR-HKG every get launched?
EYs history of taking over airlines in trouble is disturbingly poor, both in terms of performace and also their ethical behaviour. Air Berlin and Alitalia are examples of the fact that cash infusion is not enough to turn loss making business profitable. There does not seem to be capability within EY to remake and turn lossmaking airlines around, not historically and I highly doubt going forward as well. If EY was good at running busniess they would have been in a much better position with their own operations.
I predict 9W soon to be in even worse shape and operations to be significantly reduced.
EYs way of getting their money back from its investments is also borderline to be criminal. As an example, Five of Alitalias LHR slots was aquired by EY at $ 13 Mio per slot which far below market value. Top price paid has been $ 75Mio. I am suprised there has not been any legal actions taken after that.