The collapse of Jet Airways, once India's largest private carrier, was a complex failure driven by aggressive over-expansion and financial mismanagement. The primary "beginning of the end" was the 2007 acquisition of Air Sahara, which was widely viewed as overpriced and strategically flawed, saddling the airline with massive debt. Furthermore, founder Naresh Goyal maintained a high-cost "full-service" model with an impractical, mixed fleet of wide-body aircraft that were often under-filled. By 2019, the airline officially ceased operations due to a severe cash crunch and mounting debts exceeding 7,500 crore INR. In late 2024 and throughout 2025, the legal attempts to revive the airline under the Jalan-Kalrock Consortium officially failed, with the Supreme Court of India ordering a total liquidation in November 2024. By March 2026, the remaining assets, including its iconic Boeing 777s parked at Mumbai airport, have been sold for scrap or to cargo carriers, marking the final chapter of a former aviation giant that failed to adapt to the low-cost revolution.