Andy Mukherjee, Columnist

Jet Needed Just One Rupee to Avert This Tailspin

The indebted airline was dragged down by its low-cost rival’s aggressive pricing. Now options are limited and politically fraught.

January 3, 2019 at 11:00 PM UTC

By Andy Mukherjee

Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services in Asia. Previously, he worked for Reuters, the Straits Times and Bloomberg News.

Jet’s not set.
Photographer: Dhiraj Singh/Bloomberg

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All Jet Airways India Ltd. ever needed was 1 rupee, or just 1.4 U.S. cents, for providing hot meals and cold towels.

Since even that modest goal has proven elusive, India’s longest-surviving private airline now needs bankers with spine to keep flying.