Originally Posted by
SusanKennedy
Sadly, my flight was cancelled (though it showed as on time with my confirmation number). To make my next connection, I had to spend $650 on an Air India ticket as all "domestic" flights were full by the time I arrived at the airport. Air India had the filthiest plane I've ever flown on.
Oh, and the Indian papers take the perspective that the owner wants Spicejet to fail, for whatever that perspective is worth.
This story is beginning to look similar to Kingfisher. A rich owner who owns other successful companies, dabbles in airline industry, may be was hoping to unload the company some day to some other company for a profit.
With the ultra competitive environment in India and some questionable government policies, it obviously did not work. If it fails, the banks which hold the loans on this company will write it off. In addition, they will not pay the salaries either to employees. The owner ends up losing only a smaller amount. To revive the company it will take a herculean task, probably not going to happen.