What have 9W done wrong to fall to its current precarious situation? They were once touted to be "one of the finest airlines in the world. "
2005-06 : Biggest airline in India with market share 46% began to fly int'l in hopes of global expansion.
Ordered 20 WBs (10 77W and 10 a332) in a haste. Thus starting the bundle of wrong decisions
2006-07 : Bought Air Sahara and re-branded it as jetLite which was a low cost subsidiary of jet airways . This FS and LCC duo didn't work well for long because jetLite was never truly low cost. It offered low fares which started eating into the profits of jet airways. Thus this was the single biggest wrong decision by their management.
2007-08 : Introduced their new world class product in the 77Ws . Won multiple awards for the same like the "Most innovative First Class in the world " award. Their debt was skyrocketing but was blissfully ignored.
2008-12: The debt reached 18000 CR inr. The airline was unable to attract any revenue pax for their First Class in their newly introduced flights to EWR and SFO. Then the recession which completely smashed their int'l ops. The SFO route barely lasted 7 months. In 2009 , they decided to lease few of their 77Ws as they were unable to make money out of them. The first 77W which was leased to gulf air was only one year old that time. By 2012 , the only 77W route of the airline was LHR.
2013-15 : Faced severe financial crisis. Had to ground 10 WBs. Then came EY.
2015-17 : Management and Goyal finally understood that how wrong were the multiple decisions taken by them a decade ago. They became profitable once again in 2016 due to low fuel prices. However that was too little too late. That was quite a low margin profit and thus increase in fuel prices once again bought them to this mess.