Jet Airways, once India's largest premier private airline, has had a turbulent history that culminated in a formal liquidation order by the Supreme Court of India in late 2024. After permanently ceasing operations in April 2019 due to a severe cash crunch and mounting debts of over ₹7,500 crore, the airline entered a long and complex insolvency process. In 2021, a revival plan by the Jalan-Kalrock Consortium (JKC) was approved by the National Company Law Tribunal, sparking hope that the airline would return to the skies. However, for the next three years, the consortium and the airline's lenders were locked in a bitter legal battle over the infusion of funds and the fulfillment of "condition precedents." By March 2026, the revival efforts have officially ended; the court ruled that the plan was no longer viable. The airline's remaining assets, including its iconic Boeing 777 aircraft that were parked at Mumbai airport for years, are being sold off to repay lenders and former employees. The "Jet Airways" brand, once a symbol of Indian luxury aviation, has now effectively ceased to exist as a corporate entity.