Strategic Analysis of Corporate Failure

This research analyzes the strategic failure of Jet Airways and identifies the main reasons for its corporate failure. It uses theories such as SWOT, PESTLE, and Porter's Five Forces to analyze the failure. The research also provides insights on how Jet Airways can come back in the market with new services.

Strategic Analysis of
Corporate Failure

Abstract
Corporate failure refers to the companies operations which are following its inability in
order to make the profit or bring enough revenue in order to complete its expenses. Thus, the
entire research is based upon the strategic failure of Jet Airways and for that researcher uses
authentic books and articles in order to identify the main reason of failure. The research also
highlights the History of Jet Airways which consist of growth and expansion and then provide
main reasons of company's failure. The research provide five main reason of corporate failure i.e.
poor management, fluctuate prices of oil, insufficient budget etc. Moreover, research also used
theories such that SWOT, PESTLE and Porter five force in order to identify the corporate failure
of Jet Airways. Thus, through this research, researcher analyse the ways through which Jet
airways will also come back in market with range of new services.

Acknowledgement
I would like to express the deepest appreciation to my professor who gave me a chance to
work on this, as he continuously and convincingly conveyed a spirit of adventure in regards to
research and scholarship. Without the guidance and persistent help this dissertation would not
have been possible.
I would like to thank my tutor, teacher and professor who help me to work on this
dissertation and whenever I face any challenges regards to the topic, I feel free to contact my
tutor. Without his guidance I could not perform the work in good manner.
Last, I would like to thank my parents who support me to complete the project and
always motivate me to research on new topic. In addition, I also thank my friends who also
provide me new data related to my topic so that I can perform the work in more better way.

Table of Contents
INTRODUCTION...........................................................................................................................1
History of Jet Airways and Start Ups..........................................................................................3
Success in short time..................................................................................................................10
Failure reasons of Jet Airways...................................................................................................11
Porter five force analysis of Jet Airways...................................................................................18
SWOT Analysis.........................................................................................................................22
Pestle analysis............................................................................................................................25
Lesson from Jet Airways for strategic planning........................................................................30
REFERENCES..............................................................................................................................36

Title : Corporate business failure in Organization : A case study of jet airways
INTRODUCTION
The term Corporate Failure imply discontinuation of company's operations that leads to
reap the sufficient profit as well as revenue to pay the business expenses. Moreover, it is
generally happens due to poor management, incompetence and bad marketing strategies as well.
On the other side, it is analysed by Elsayed and Elshandidy, (2018) that low profitability, high
gearing and low liquidity are consider some common examples of corporate failure and it can be
shown only by analysing company's financial trends because it is related to each others. In this
competitive era, it is also analysed that to stay competitive in the market, the company adopted
different strategies an provide innovative solutions that may affect the overall business in
positive way. Moreover, if the company is fulfilling its commitment and also provide its best
product and services to their customers then it will leads a firm to grow at further level of
success. Though there are many reasons which creates failure and this includes lack of planning,
leadership failure etc. In the same way, these failure leads to damage the brand reputation of the
business and that is why, it affect the goodwill of the company as well.
Therefore, before implementing the corporate strategy, it is quite essential to make
strategic decision because the crucial role in strategic decision making process has strategic
analysis and it also brings important information related to evaluation and development of
environment inside and outside of the company that reveals different opportunities which has to
be consider while taking strategic decision making (Hamilton and Micklethwait, 2016).
Moreover, there are so many reason of corporate failure and as a result, it may affect the overall
performance of the company in negative way such that there are many reason of failure and such
that economic distress which is consider one of the major cause of corporates failure and decline
in the economy also leads to reduce in different activities which may affect the overall
performance. On the other side, management is consider another biggest issue that affect the
overall working of the business. Even mismanagement implies improper management control
over the working of employees and other business activities. It also refers to the lack of
managerial skills and experience that affect the overall business performance. Hence, it is
analysed that there due to lack of leadership and management, the company start declining and
this in turns, leads to damage the overall brand reputation of the company as well.
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On the other side, in this modern era, every company desire to use advance technologies
for company's smooth functioning and therefore, technological cause is consider another reason.
With the advancement in technology, there are so many new modes introduces in the market
such that airline industry also uses the same for their online booking process which is better than
traditional ones. But on the other side, if the industry fails to comply with the same, the chances
of failure of the firm may also increases. Therefore, in the same, there are so many other causes
negative impact or reason of failure of corporate as well. Thus, it is clearly reflected that
understanding business failure presents an enormous theoretical challenge which should be
concerned with the professionals. Therefore, the existing research provide a deep knowledge
related to corporate failure of Jet Airways which leads to suspended its overall operations by
applying different models and theoretical concepts. As currently, Jet Airways did not provide its
services to their customer and this is all because of poor management strategies and lack of
effective leadership styles and these all in turn, affect the brand reputation of the company.
As per the view of Jacobson and Von Schedvin, (2015) corporate failure is not about the
environment but is all about the failure of alignment between organization and its environment
realities. In the same the existing research also shows what are the different causes of corporate
failures in the context of Jet Airways that affect the overall business in just opposite way that
leads to suspended its entire business operations. Though it is also true that majority of the
entrepreneurs fails and it is all because of poor management and low level of strategies
implementing. Therefore, it is clearly reflected that due to taking wrong decision and poor
management may affect the overall business into negative way. Thus, the current dissertation
also helps to determine exact reason that affect the overall business operation of Jet Airways and
that is why, it leads towards failure too (Morris, 2018). On the other side, excessive complexity
and defective communication also cause failure of corporates because mismanagement implies
improper management control over the working of employees and other business activities as
well. Moreover, it also refer to the lack of managerial skills and experience in the terms of
strategic capabilities and leadership that results in failure of enterprise.
The dissertation is based upon Jet Airways, which is India based company who was
provide good services to their customers at low and reasonable rates. Unfortunately, due to some
reasons, government suspended its all operations. Earlier, Jet Airways is known as a market
leader in the domestic airline industry in India and it started it services from 1995 onwards as a
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sole trader but as it become leader in airline industry, it is owned by he government and this
turns as a public listed company. Its parent company is SBI led Bank Consortium who owned
51% and Ethihad Airways owned 12% and public shared are 13%. Its headquarter is in Mumbai,
Manaharashtra in India and there were around 16 thousands employees who were working under
this. Further, from 2000 onwards, company's success is started and this in turn also help the
business to become a dominant leader by providing a range of services to their customers at low
rates as compared to other competitor. Thus, entire report will also provide range of knowledge
that support to determine the main reasons of failure and also ascertain ways through which Jet
Airways also come back in market.
In addition to this, the entire report is based upon how Jet Airways leads towards the
failure such that what are the reason that affect the overall operations in negative way. Moreover,
current dissertation also describe the start up of Jet Airways that may includes the History and
initial problem faces by the firm while establish the firm. Thus, the report will highlight what are
the reasons of failure and how it may affect the overall business into another way. This stage also
includes different models that helps to determine the actual environment and that is why, report
uses SWOT analysis to identify the strength, weakness, opportunity and threats. Including this,
report also uses PESTLE analysis which helps to identify the external environment of the
company and by applying Porter five force model, report will analyse industry analysis. Further,
it also describe how Jet Airways step by step connected entire world to India but what are the
reason that may affect Jet Airways to suspended its overall operations from 2019 onwards.
Lastly, report describe the lesson learnt from Jet Airways for a strategic planning and the lesson
learn after corporation management from Jet Airways.
History of Jet Airways and Start Ups
Jet Airways is consider Indian International Airline whose headquarter is in Mumbai but
recently from 17th April, 2017, it suspended all its flight operation. In 1993, Jet started as an taxi
service operator and then become India's biggest airline by offering top class international
services. In the same year, they would not actually start flying until everything is under
controlled when they lease four Boeing 737-300 on demand air taxi airline. Its first flight was
from Bombay to Ahmedabad. Company also granted scheduled airline status on January 14,
1995 and then it become a deemed public company on July 1, 1996. Thus, from January 19,
2001, Jet Airways was reconverted into a private company and further from 2004, it become
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public company as well. Even, it also carried over million passengers to 12 destination in its
first year. The quoted firm started 20% equity partnership with Kuwait Airways and Gulf Air and
after some time it takes an exit later (History of Jet Airways, 2018).
At the time of incorporation of the company, the shareholders were P.V.V. Chalam and
Mrs. Anita Goyal and these shares were also transferred to Tail Winds on May 12, 1994. in this
case, Mr. Naresh Goyal actually holds the Tail Winds with a RBI approval. Therefore, with the
pursuant to an application made by the company in which the owner of Jet Airways wanted for
international collaboration proposal for the investment for the investment in Tail Winds in
proportion of 60% by Naresh Goyal, while 20% by Gulf Air and 20% by Kuwait Airways.
Overall, this in turn leads to 100% of the Equity share capital of Jet Airways company. Hence,
from 1993, the company started offering services services of 42 destination that further
comprising 34 Boeing as well as 737 aircraft and eight ATR 72-500 aircraft facilities too.
Moreover, after collaboration with the international aircraft, the owner of Jet Airways, Mr.
Naresh Goyal wants to acquire 20% equity shares from each of Gulf Airways as well as Kuwait
Airways in order to become 100% owner of Tail Winds because currently he owns only 99.99%
of the equity share capital only.
In next year, the company start to expand its business and then it carried 1.7 million
passengers and in the same year, they had only seven aircraft in which three are rented from
Malaysia Airlines. In 1996, Jet Airways take a huge order of more than 300 million dollars from
US and also purchase their four 737-400 and six 737-800 which means that it had a expand its
capacity to carry around 2.4 million passengers in a year. Thus, it provides a good market share
of 20% and also known as second only national carrier India Airlines. Thus, it shows the huge
expansion and reflect that it has ability to proceed for further expansion as well (History of Jet
Airways, 2019).
Therefore, after its rapid expansion, in 1997, the government of India ruled that no
foreign companies were allowed to own part of India's domestic airline and in the same time, the
owner of Airline Naresh Goyal purchased remaining 40 percent of Jet. Further in 1999, during a
Paris Air show, jet Airways also announces an order around $550 million for purchasing further
ten Boeing and as a in 2001, it grown to 30 aircraft which was operating 195 flights daily with 37
destination in India. But after that, the company faces loss for the first time after its
establishment because of poor performance of that year. But suddenly in 2003, government of
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India allowed jet Airways to run at international level and that is why they chose its first
international flight from Chennai to Colombo. After running at international routes, in 2004, the
company also listed itself as public company and it also listed on local stock exchange to raise
funds for their expansion (History of Jet Airways, 2018). Thus, it offered 20% of the company to
investor and the owner Naresh Goyal become a billionaire. Therefore, this clearly reflect that the
firm operates at international level by providing the best services to their customers, but due to
poor performance and financial problems, the company have to faces big loss to suspended its
flights from 2019 onwards.
The growth and expansion of Jet Airways is started from 2005 onwards. In which the
company has filed its own draft Red Herring Prospectus with the Security and Exchange Board
of India (SEBI) in order to enter into the capital market with the company's initial public
offerings. In this same year, company offer around 1.72 crore share in which the equity share of
Rs. 10 each for the cash at the price which must be decided for the book- building process.
Moreover, the Jet Airways also signs a lease agreement with the South African Airways and as a
result, Jet Airways launches its first inter- continental flight by linking the Mumbai with London
by the non- stop day flight from May 23, 2005. in the same year, company also executes a
purchase agreement with the Boeing company, USA in which it also introduce an inflight safety
Manual in Braille. Further, the success also start when the company signs a pact with Gulf Air
and quoted firm also win Avaya GlobalConnect Customer Responsiveness Award. Jet Airways
IPO also subscribed the 4.25 times on the first day of the offer in which there were 7.32 crore
bids were actually received on the very first day. Therefore, insurance company also accounted
for the 0.61% of the total bids that also raise the success of the company.
In addition to this, in 2006, January, Jet Airways announced its goal to acquire Air Sahara
but unfortunately the deal is fell down in June. But in 2007, the same deal was back on track it
was marketed between low cost carrier and full service airline it was renamed as JetLite and after
that it wholly owned subsidiary by jet Airways. In 2006, the company also signed a special code
sharing agreement with the American Airlines which is one of the world's largest carrier for
India and US flights. Moreover, in 2006, Jet Airways signs a contract with CAE for Boeing 777
and simulators of Airbus A330. In next years, Jet Airways also signed the Memorandum of
Understanding with Lufthansa Technik AG, Germany for component works and also signed
Personnel Assignment Services and Maintenance Management Services as well. Then to build a
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brand image at international level, Jet Airways India Ltd also announced its flight from Chennai
to Toronto, via its hub in Brussels. In 2007, an organization also win an award of Most
Innovative Product Launch for its first class Suites onboard its Boeing. Thus, it is analysed that
from 2000 onwards the company name is recognized in top Airlines.
Further at 2008, the company laid off its more than 1900 employees because of
intervention from Ministry of Civil Aviation and in the same time, it has its new rival Kingfisher
Airlines. The company also launches the daily flights between Mumbai and Bangkok and then it
also won Galileo Express Travelworld Best Domestic Full Service Award for the Sixth year .
Further, it also win an award of Best Cargo Airline of Central Asia. Beside this, in 2009, the Jet
Airways also launches its low cost service name as Jet Konnect which is further help to
maximize its overall business by raining the financial performance. Thus, by operating at
international level, jet Airways become one of the largest airline industry in India by acquiring
22 percent share of market. It is one of the first domestic airline in India who ban meat products
as well as liquid and then in 2012, jet Airways merged with JetLite and Jet Konnect and started
offering business class seats at low rate that helps to attract wide range of customers.
The success has not stopped in these years, but from 2010, IBM also linked a 10 year
business transformation and Information Technology services which had done a deal of $62
million with the Jet Airways. In successive year, company also wins a award from CNBC as a
Best Domestic Airlines&rdq. In 2011, Jet Airways also start taking a delivery of 100th Aircraft
and declared as a Best Domestic Airline by the government. Further, in 2012, it also earned
many titles and known as one of the top airline in India.in 2013, Jet Airways Jetpriviledge Inks
Partnership with the Mobile Store and join hands with HDFC bank in order to launch
JetPriviledge- HDFC Bank World Debit cards and then company enter into the Reciprocal
Frequent Flyer Partnership with Air New Zealand in which it provide a service to of daily flight
from Mumbai to Singapore.
Thus, it is clearly reflected that company has majority of strength and as a result, before
2019, it is consider one of the largest airline firm in India. But due to sudden financial losses, the
company also affect its overall negative impact. Due to this, the overall success of the company
is affected and it leads to suspended the operations as well.
For growth and expansion, Jet Airways uses variety of marketing strategies that helps
the firm to enhance the overall performance and also reach wide range of customers as well.
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Therefore, the marketing strategy of Jet Airways is quite good such that to expand its current
business, Jet Airways majorly focus on the social media in which it mainly used Facebook
because it earn good conversion rates. Hence, this Facebook application also redirects the traffic
to website and it also furnishes users with important information such that online booking, web
check in special offers and flight status etc. On the other side, Morris (2018) stated that Jet
Airways handle Twitter quite well as compared to Facebook and this tool is consider leveraged
to communicate instantaneously for attracting new customers. It is also analysed that company
may easily done marketing easily through Twitter because the post can be seen by those people
who are not followers and thus, the information is also provided to the range of customers
without any issues.
Hence, in the growth and expansion of Jet Airways, marketing also plays an important
role and as the company comes under growing industry. That is why, it is essential for the
business to use best marketing strategy in order to let people know about the services offered by
the company and they may also took an advantage of the same. Additionally, Jet Airways have
good pricing strategy and another reason of its growth in early time is adopting fair pricing
strategy. Jet Airways have three different classes of services and pricing policy which is further
based upon the individual service for that class. For instance, the services which Jet Airways
offered in 2000 is completely unique and its services itself makes the firm differentiated from
others. Such that ticket prices for first class passengers Is little bit higher because of extra
services and benefits that allotted to customers. While on the other side, the business class and
economy class are gradually lower as compared to first class and this is because of fewer
services offered only.
Not only this, Doumpos and et.al., (2017) stated that Jet Airways also offered
concessional fares to students, patients and senior citizen. Thus it is its marketing strategy that
force people to use Jet Airways only instead of others. Further, company also offered the some
additional benefits to its regular flyer in order to maintain loyalty towards a firm and this in turn
also maintain good relationship as well. Hence, it is analysed that marketing strategy is consider
as a key strength for the business and that is why, company focus on the marketing strategy
which helps the firm to raise the brand image at international level. Sometimes, company also
uses offers Visa card to its regular customers through the users my collect points after every
flight and then it will be redeemed at later date as well. That is why, Jet Airways also received an
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award of Most Respected Company in 2004 that clearly reflect, company operations and
strategies support a business for its growth and expansion. Hence, the growth and expansion of
the company is completely depend upon the marketing strategies which further assist the firm to
improve its financial performance too.
Jet Airway's Strategy and operations:
Jet Airway's strategy in 1990 was to position itself completely different from the Indian
Airlines so that it will become a dominant player in the Indian Aviation industry. In the study of
Woodward and Brindley (2019) it is analysed that Indian Airlines had a wide network of
destinations across India, along with range of extra services such that large and varied fleet of
aircraft, pick of flying and slots at airports. Though the industry provide good range of services
but still the performance of airline industry is not satisfactory. The planes and airports were
badly maintained and staff was completely different (quite rude with the passenger) and also,
operations were ridden with inordinate delays and cancellations. Despite this, the Jet Airways is
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in profitable because passengers did not have other choice and as a result, they have to used the
services offered by the Jet Airways only.
Further, Jet Airways competitive strategy is quite good because it had been designed with
proper and full service game. Like, it provide free meals to all passengers, large and well trained
teams that make sure about the quality of service offered, frequent flier programs for the
customer retention. Therefore, these services are not offered by any other airlines and that is
why, most of the passengers preferred to use Jet Airways as compared to SpiceJet etc. Moreover,
Todorov and et.al., (2018) stated that with the advent of Indigo, Jet tried to hurriedly change its
competitive strategy because it offered the service at low price with no frills service as an
answer. Hence, this is consider one of the drastic change in the airline industry related to
operations which results to brand perceptions. This strategy helps Jet Airways to creates a brand
image In India and stay ahead in the competition.
On the other side, it is further studied by Ahuja and Shakeel (2017) that Jet Airways was
reacting to Indigo's entry and competitive because Indigo had actually designed its entire
business which is based upon the strategy of low price with no extra services, which is the
strategy of Jet Airways. Therefore, the core customer base of Jet Airways was quite confused
because both company offered the same price and that is why, Jet Airways was disappointed
with the sudden shift of their customers to Indigo (Jet Airways strategy and operation, 2019).
Thus, in order to beat the new competitor, Jet Airways moved away from the model it was
actually designed for and proceed for new model. But unfortunately, it was no longer sustain in
the competitive market and as a result, it landed up in extreme profitable issues.
Jones and Chauhan (2019) stated that in the early 2000's there was a tremendous increase
in the competition in the Indian Airline industry. At the end of 1990's there were less efficient
private airlines in India in which only Jet Airways and Air Sahara were left to compete with the
Indian Airlines. It is further evaluated that in 2004, that aviation market in India was very small
with the extremely low penetration rate, while on the other side, the competition for the share in
a small market become a stiff. That is why, at international level, Jet Airways prospects
improved further, after the years of lobbying on the part of private domestic airlines, thus, the
government later on permit both Air Sahara and Jet Airways to fly international routes in the
early 2005. on the other side, Morris (2018) contradict that Jet Airways also on the verge of
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launching flights to US even there were many allegation i.e. the airlines is associated with the
terrorist groups but still company fight and also build goodwill in the market.
So, the heavy competition in the market will also helps the business to think over its
operations and strategies which in turn assist to stay ahead in the competition. As company
receive many awards for its good performance in every year that also reflect that business has
creates positive hype and visibility for the customers, so that they may also take advantages of
offered services too. Moreover, it unique product offering and range of services also make the
company different from others and this in turn leave positive impression upon customers, while
using effective competitive strategy helps the firm to stay top in Airline industry.
Hence, it is reflected that earlier the strategic planning and operations of the company are
quite good and satisfactory but, when another airline company also offer the same services at
same price, the competition become stiff. As a result, Naresh Goyal started take a decision which
is not in favour of company and this further leads to creates crisis. Overall, it is identified that
with the sudden change in market and changing preference of the customers, Jet Airways must
implement the service that is differentiated from others and this in turn creates a positive impact
upon company's overall performance. Moreover, it is also analysed that Jet Airways also have a
tremendously successful IPO which are further consolidated the airline's position in an Indian
Aviation Industry. Beside this, there were large number of low cost airlines were set up and it
become difficult for Jet Airways to face a competition because of complying with autocratic
leadership style.
Success in short time
The success of Jet Airways is clearly reflect in 2010 when it became one of the largest
airline in India with a vast market share that is 22.6 percent. Further, the success also increases
when in July, 2012, the company officially sought a government approval to join Star Alliance.
The success formula of Jet Airways in such a short time is such that it stated it operations with a
leased aircraft and its main idea is to expand and faster by using funds from others and purchase
more aircraft from others (Rossi and et.al., 2019). Then a Boeing 737 could also cost anywhere
between $40 and $50 million, but on the other side, the most crucial decision for the owner is to
make choice for the aircraft. At last, Jet Airways chooses newer 737- 300s whose actually lease
cost is 40 percent higher but Naresh Goyal think that this young fleet will definitely attract
customers and it actually help in the success growth of jet Airways as well.
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While opting the same, Jet Airways made the maintenance and flight crew training is far
simpler such that spares are common and inventories were also lower. Moreover, purchasing 10
more Boeing also help Jet Airways to operates its flight in its near by countries and as a result, its
success start from that. But on the other side, secondary research also shows that quoted firm
further faces new kind of competition at international level such that United Airlines, Singapore
Airlines, British Airways and Cathay Pacific. At that time, the company's main goal is to
consolidate the market share in order to improve the services level by adding more routes to their
networks. Therefore, from the date of its establishment to till now, there are lot of changes in the
company that leads a business towards success. Moreover, Initially the company have only 20
percent of its share within India but when it leads towards success, the company''s growth also
increases and it leads towards expansion as well. For instance, when the government of India
rules no foreign companies in 1997, and also allowed to own part of India's domestic airlines at
that time, Naresh Goyal purchase back the remaining 40 percent of the jet in order to increase the
market share.
Therefore, from 2000 to 2014, the success of Jet Airways increases such that it bought
Air Sahara and also merged routes that will further support the rivals that is Kingfisher. Further,
by joined Star Alliance, Jet Airways become of the largest Airline by occupies approx 22.5% of
the market share related to all air traffic. Even the success factor also relies when the government
allowed the foreign airlines to buy up to 49% of the local carrier of India, but at the same time,
Jet Airways sold off 26% of the firm to Etihad. Such that it shows that the success of Jet Airways
increases but unfortunately, it is for short time only.
Failure reasons of Jet Airways
Having a brand image at international level, the company's success is only for short time
such that from 2018 the Jet Airways faces losses and it has to balance its book in order to stay
solvent. As a result, they further build on money to lend up the institution and further support
services as well as aircraft leasing firms. But the actual problem start from March 2019, where
the company's owner has not able to resolve own financial problem and as a result, Naresh Goyal
also give up its 51% of the shares and also allow his share to be sold as well (Five things that
went wrong for Jet Airways, 2019). In such situation, Etihad is unclear if they may bail out the
airline but on the others side, Jet Airways also managed itself to get a short loan from lenders as
if they sold off stock.
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Shareholding as on March 31, 2019
Particulars Current stake
Promoter 51.00%
Ethihad Airways 24.00%
Public 25.00%
Total 100.00%
As Jet Airways is public limited company which is listed on both BSE and NSE, the firm
is actually faces liquidity crunch and that is why, from April 2019, all the operations
(International and domestic) of Jet Airways were suspended (Jet Airways under corporate
insolvency Process, 2019).
On the other side, due to financial crisis, reports also worrying from pilots and other
cabin crews that they have been asked to work without pay for the whole period and this clearly
reflect that Jet Airways losses its brand image and as a result, it may affect the entire operations
as well (Jory and et.al., 2019). Due to suffering from financial loss, on April 5th 2019, even the
fuel suppliers also cut off the company and refuse to pay fuel to their planes till the company had
been paid. Therefore, these problems affect brand image of the company in negative way and as
a result, the flights are also oversized and affected the overall working environment in negative
way. Thus, it reflect that airline has run out of cash and working without salaries is also consider
as a default and as a result, the services are collapsed as well.
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Apart from the financial problem, Naresh Goyal also held back affect from the major
factor that has held back to potential investor which includes Etihad Airways and as a result, the
owner of Jet Airways give up control of the company. From range of reports, it is also analysed
that Etihad Airways initially agreed to invest huge amount of money and also raise its equity
stake in airline, but actually the deal is collapsed and as a result, his family own 52% stake in Jet
Airways (Langston, 2019). Thus, it is analysed that some of the things which goes wrong in Jet
Airways such that, Costly Purchase is consider one of the biggest issue and reason of its fall. It is
so because many aviation experts beliefs that Jet's financial trouble starts from 2006 when it
purchase aircraft from Air Sahara in cash directly. Even the founder also ignore the advice of
professional associates and they warn not to pay such high amount. Moreover, Budget Airlines is
another issue or reason that cause jet Airways fall because India's aviation sector is quite
competitive and the quoted firm is consider one of the highly competitor because of its huge
successful low cost airline. Moreover, many experts also state that people running jet failed to
take trio in serious manner when it is founded in 2005 and 2006 because of offering cut price
fares and unserved routes as well.
In addition to this, another reason that also support in its failure such that poor
management because the founders did not follow best management style and as a result, he is the
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Illustration 1: Jet Airways demise

only person who leads the entire team such that it reflect, Goyal follows autocratic leadership
styles (Christensen, 2019). Even running all the Jet operations by a single person is also consider
one of the biggest mistake that fails Jet Airways. Many analyst also states that they should had
different team to run its operations such that it run full service carrier and another one is running
budget flyer so that it will help to manage the entire work in better way. Therefore, Naresh Goyal
was also accused of making bad investment decision and lack of transparency and chairman also
failed to addressing the company's poorly financial state . Thus, it is analysed that due to not
having effective management strategies, the failure of every business is fore sure. On the other
side, fluctuating crude is another reason that fails Jet Airways, it is so because all of India's
carrier are quite sensitive to fluctuation in global crude price and it is so because the Asian giant
is known as one of the importer of oil. If rupee is weak it is not easy for the people to invest their
money in the Jet Airways because it makes the flight tickets more expensive and as a result, it
affect the overall Indian carriers as well. Therefore, no Indian carrier was spread from the price
fluctuation while Jet suffered the most, so it is analysed that fuel is the biggest cost burden or
airlines and it becomes more expensive as well. Thus, soaring oil cost and Indian rupee hitting
record lows also affected all Indian carriers. Such that other airline company that is SpiceJet and
IndiGo also record the massive loss and among all, Jet Airways loss huge money without gaining
expected revenue.
Therefore, these all reason are consider the major factor that cause failure of Jet Airways.
Apart from this, Failure to attract investor is also consider another factor that affect the Jet
Airways in negative way such that Naresh Goyal fails to identify the strategic investor who
pump money into jet and helps them to overcome from this loss. As Etihad Airways also
reportedly refused to raise the stake because Naresh Goyal was leading a business. Then Jet's
attempt with Tata and Etihad Airways failed and also led the Naresh Goyal's exit from the
management because it is the part of debt resolution deal which also saw the lender association
which was further led by SBI. This clearly shows that the Founder of Jet Airways did not have
good management style and did not take better decision, as a result, it affect the overall business
in negative way (Morrison and et.al., 2019). As a result, from April 2019, onwards the quoted
firm did not serve its services to their customers because of sudden cut of from their fuel
suppliers and then the plane also suddenly seized by another airline because of non- payment and
it affect the overall business into just opposite way.
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Another key points that highlight in the contribution of Jet Airways failure is RASK
(Revenue per available seat kilometre) is also increases by 2.6% and though it is the remarkable
achievement for the company but Jet Airways also did it by reducing the number of routes and as
a result, non- fuel CASK has also gone up this time by 19.1%. thus, it is so because of the less
aircraft utilization and as quoted firm shut many routes. Further, there was no aircraft returned
which means that the aircraft had to remain on the ground for a longer time which is actually not
possible and therefore, these are the basic mistakes done by jet Airways which leads a business
towards failure. Hence, due to low financial condition and mismanagement leads a business
towards wrong path and this in turn affect brand reputation of the company as well. Company
also tries to restructuring its network but it failed due to not having enough resources and at the
end, in 2019 onwards the company stop providing its services to the customers which also
creates wrong impression upon customer's mindset.
15

There is another factor that also affect the overall Jet Airways in opposite way i.e.
demand supply mismatch in which employees and bank have written to government to protect
the interest of Jet Airways, but on the other side, Jet Airways received the initial interest from
Etihad Airways, TPG and NIIF (Rossi and et.al., 2019). As there is an international services
which is provided by Jet Airways and the government of other countries also seek to and
increase from the Indian Government so that they also refused to raise the quota and it is also
analysed that foreign flying quota is also measured as per seats per week airlines in which it may
operates.
The timeline of Jet Airways failure also state that there were number of reason that leads
a business towards failure. In August 2018, quoted firm dismissed media reports of not having
enough funds to fly and then State Bank of India said that there has to put loan of Jet Airways.
Unfortunately company reported the loss in the June quarter and it also cut down the cost by
around 20 Billion Rupees in two years. While in September, 2018 media also reported that Jet
16
Illustration 2: Financial performance of Jet Airways

Airways did not have money to pay their employees, but firm said that they paid salaries to 84%
of staff. Thus, to cope up with the financial issue, media reported that Tata group is looking to
buy 51% stake and also merge the airline with Tata' Vistara. In next year i.e. 2019, Jet Airways
delay the payment which was led by the SBI (Reason of failure of Jet Airways, 2019). While on
the other side, Etihad Airways also report that not to share any equity into Jet Airways, and the
SBI said that Jet's lender would consider plans of resolving the debt issues. As company suffer
from the financial issues and that is why, it grounded four aircraft after failing to make payment
to the debtors.
Additionally, in February, 2019 the company's board member also approved the rescue
deal and this also made lenders the largest shareholders. Then Indian government was actually
asked that the state run banks in order to rescue the Jet Airways from bankruptcy. Then the
chairman of Jet Airways, Mr. Naresh Goyal stepped down as a chairman and his wife Mrs. Anita
Goyal also resign from her post and that is why, for immediate funding, lenders to pump in 15
billion Rupees. Then in April, 2019, more than 10 flights were also grounded and the fleet size is
also reduce to less than 20 and at that time, Indian Aviation secretary said that Jet Airways has to
funds to stay in the operations only till 15th April 2019. As a result, company plans to extend
suspension of international flights from April, 2019 which in turns affect the overall brand
reputation. Due to failure of the Jet Airways, and sudden fall of airline stock price, few investor
are also hold their stocks. Therefore, Jet Airways has a debts of more than 8500 crores, even if
the airline resume partial operation , Jet Airways not in the position to repay all its debts in the
near future. This further creates a case for conversion of debt into equity and adding new equity
also increases the payback period, while the shareholders also did not receive money.
In such cases, the existing shareholders will also not easily generate the returns for many
years and the existing liabilities also leads to increase current assets and thus, the airline also
have a negative net worth. As a result, the overall equity value become zero. These all affect the
shareholders in opposite ways, further this risk also affect the overall position of the shareholders
and as the data shows company faces many issue and this all affect the goodwill and overall
reputation of the business in adverse way as well. Further, government of India also trying every
possible scenario in order to revive India's largest airline but revival as well as investor would
also suffer losses and they also require lot of time to get back on its original position.
17

Therefore, in this way, the Jet Airways faces sudden down and it also spoils its brand
image and from April 2019, it has no right to run its operations and flight as well. Thus, it is
clearly evaluated that due to many reason, Jet Airways leads towards failure and even its boards
of director and chairman also stepped down because of suffering from debts.
Sort out the internal issues:
From the history of Jet Airways it is clear that company creates a brand image at
international level through its strategic operations but as the demand of customer varies, that is
why, there is a need to introduce new competitor. In order to meet the level of competition, Jet
Airways also try to focus on new business model but it was failed and generate many reason as
well. Further, there is a need to develop an alternative competitive strategy in order to sort out
the internal issues. Such that as the airline traffic in India is growing at faster rate which also
help to raise economy, in which the lower priced tickets also enable people from lower economic
strata i.e. migrant labour which further take flights from their home towns and then to their work
place. As a result, it will help to save time and people also prefer to chose this option rather than
others.
Moreover, in the study of Chen and Pawlikowski(2015) it is also analysed that rather
than introducing new model, if Jet Airways maintain its original model then it will be more
beneficial for the business and it will not meet to failure. As company added extra prices and also
add services in order to grab attention of many customers but it is not successful. Rather it sheer
the growth market demand for the travellers and this in turn also gravitate the customers towards
another airlines which ;leads to a great loss. Therefore, it is analysed that when any industry cater
to a large mass of population, firm has a ample scope in order to determine the profitable
segments and then focus on the same, instead of what other company perform (Solution used by
Jet Airways to be competitive, 2019). Thus, this in turn also help the business to creates more
better opportunities for the customers and also build the brand image at international level as
well.
On contrary, Ali (2019) also stated that Jet Airways should also focus on the unit
economics and profitability which are backed by the quality of service and it must also given to
the premium in prices which further make sure that business performance is high in quality of
not. Moreover, this also lead a business towards up because author stated that if the company
keep focus on the offered services then it will be more beneficial for the company to attract new
18

customers and passengers towards it. Further, Jet Airways should also further enhanced the
perception of being a premium services. In this strategy, company added the facilities for
economy class passengers and also taken an even higher price which further creates a premium
economy segment for the business which helps the company to increase the brand reputation and
also increase the customer base as well. Thus, this in turn assist Jet Airways in order to cope up
with the range of competition and easily draw attention of many customers towards it.
Further, Chernov and Sornette (2020) stated that there is a need to change the
management style by Naresh Goyal because he takes all the decision himself without consulting
others and involving experts. Therefore, it affect the entire strategic planning and also creates
negative impact upon the other employees. As Poor management is the key reason of failure of
Jet Airways, that is why, it is suggested that in order to came back again in market, the chairman
or owner of Jet Airways should use democratic leadership style that helps the firm to enhance the
overall performance. Even Chairman of quoted firm also invest in different shares and purchase
many international flights as well just to capture new market, which is not worthy and at the end,
it leads towards failure. Hence, all the failure reasons must be addressed in proper way so that it
will not creates any negative impact upon the performance of a business. Thus, this in turn also
affect the overall business and raise the chances of come back in market as well.
Porter five force analysis of Jet Airways
As per the view of Shokeen (2016) to determine the strength which company posses in
order to stay competitive in the market, that is why, the firm uses Porter five force model which
helps the business to determine the company's competitive environment. Therefore, it describe
the number and power is a company's competitive rivals, potential new market entrants, suppliers
and customers or the substitute products which also influence the company's profitability too
(Schuetz and Schrefl, 2017). Therefore, it is also consider an important tool that is used for
understanding the forces that further help to shape the competition within an industry. On the
other side, author also state that this strategy helps the company to adjust the strategy which suit
for the competitive environment and as a result, it also improve the potential profit as well.
Therefore, Jet Airways also uses this strategy in order to implement the strategy that further
helps it to stay ahead in the competition. Thus, these five forces are as mention below:
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Threat of new entrants: The industry has a high risk of new entrants and it is so because
the company working in this industry are not require any high investment in an innovation in
order to get in the market. Further, Jet Airways along with different local carriers in India are
actually protected by the government policies. That is why, government of India limits the
competition with a privatization act by stating that only Indian nationals and existing airline
companies acquire some percentage of airlines which is operate in India (Shaw, 2016). Overall,
it is analysed that when a new company enter into this industry, brings lot of new strategies and
services so that it draw attention of many customers towards it. Therefore, the more profitable
the industry , then it brings new competitors as well. Among all, Jet Airways is a very well
known airline company in India since so long and it also sustain the brand image and good
reputation among the customers mind. Apart from this, Jet Airways have a brand image and also
offer good quality of service consider as a strength will help the business to remain in the market
as well.
Threat of substitute: The threat of substitute for Jet Airways is low and it is so because
the airline industry is a broad industry with lots of key players. Further, the competition is also so
fierce which is given to the competitor that is belongs from a global perspective. But on the other
side, there are many low cost carrier which further putting pressure on full- service carrier that
dictating the prices or which the services are offered to the customers (Moreno-Izquierdo,
20
Illustration 3: Porter five force model

Ramón-Rodríguez and Perles-Ribes, 2016). Though, airline industry also do many innovation so
that the competition will be less or low, but the major factor which affects customer's decision is
further relies heavily on the price of commodity that is given the availability of a vast number of
suppliers as well. Moreover, the airline industry faces low threat of substitute and it is so because
it provide best services and takes less time to reach their customers from one destination to
another. While in the case of car, bus, train, these modes takes a lot of time and that is why,
people did not prefer, because their main cost is time. On the other side, airlines surpass all other
forms of transportation such as cost, convenience and many times services as well. Therefore,
there are many chances when customer prefer to choose another option such a car because of
many reasons such that cost if they are not travelling very far which increases risk.
Bargaining power of suppliers: Jet Airways faces high bargaining power of suppliers
such that bargaining power of aircraft manufacturers owing to switching cost is quite high. It is
so because the airlines must enter into a contracts when leasing or buying the aircraft while, any
company break this, then they imply heavy financial cost as well (Flouris and Oswald, 2016).
Moreover, this factor also relies upon the importance of quality in which reliability and safety are
critical. Further, the quality of plan as well as its maintenance is also highly important. So that
this factor also leads to high supplier power as well. On the other side, in 2008 when there is an
increase in price of Aviation Turbine fuel which creates negative impact upon the airline
industry. As a result, the industry losses more than billions and at the end, Jet Airways did not
have any other option to pass down the additional cost to consumers by increasing the fuel
surcharge which is paid by the customers.
In addition to this, the companies deal in airline industry did not switch easily and most
of the firm also have long term contracts with their suppliers and that is why, there are very few
suppliers in the airline industry because it is very difficult to enter into the plan manufacturing
industry as it require lot of money and that is why, company faces high bargaining power of
suppliers.
Bargaining power of buyers: Jet Airways faced medium bargaining power of buyers
and it is so because price sensitivity is quite high and due to growth of online comparison sites,
travel expenses which strengthen the buying power of customers in airline market. The company
working under airline industry provide a great deal to their providers which uses this services
and it keep modify things in order to attract wide range of customers such that cost, quality and
21

originality, further they also easily change their suppliers whenever they needed (Dash, 2019).
Moreover, Jet Airways has a brand image and that is why, consider that brand name switching is
refrained from doing at the high expenses to the consumers so that the industry has a high
bargaining power of buyers as well. Jet Airways also has the loyal purchaser and that is why, the
company also able to use the technological breakthrough by using the Internet which is a
powerful medium in order to make the payment by using e-commerce.
Rivalry among existing players: The competition in airline industry is quite high or
competitive. It is because of number of reasons such that low cost carriers, tight regulations of an
industry in which safety becomes a high operating expenses. Further, the airline industry also
regulated on the supply side which is more than demand side. Thus, it means instead of airline
industry being free in order to choose in which market the company should operates and what are
the segment of target. Therefore, it is clearly reflect that there are number of competitor which
stays for long term but it does not mean that the it is over- capacitated. On the other side, the
fixed cost of the industry is also high which actually makes it hard to leave the industry because
of long term loan agreements in order to stay competitive in business (Shaw, 2016). Moreover,
the profit in this industry is quite high because mostly people prefer to use airlines for their
transportation.
Though it is not a trend which makes this industry more profitable for the long term, but
having a wide range of flights which provide best comfort zone to the customers. Moreover,
another reason of having a high competition in the airline industry is such that the products
which are involved or the planes that are highly complex which raise the competition high and as
a result, it leads to stay competitive in the industry as well.
Moreover, from the Porter five force model, it is analysed that the strongest force in this
industry are the competition of the existing firms as well as power of suppliers. Such that the
rivalry of the existing player is quite high and it will push out many firms but due to not having
enough capital, it does not leads in the competition (Vogel, 2016). On the other side, if the
suppliers are changed, the credit terms will be small amount and as a result, it will significant
loss for the firm as well. Moreover, there are many changes in some of the force and even some
of the air-plane manufacturers also have been making an eco- friendly planes as well in order to
promote the environment and getting free from the pollution as well. Therefore, this is further,
differentiated the products and also raise the threat of suppliers as well. On contrary, another
22

recent change is the use off web portals such that Expedia for book the flights. Hence, it is the
positive change that creates new group of buyers as well as makes the purchasing more faster
and easier or the customers.
This shows the increase in gas price has also creates a positive change for an industry and
it is due to lessen the power of substitute. Further, people are more willing to fly by using jet
Airways, even though it is more expensive (Sezgin and Yuncu, 2016). Therefore, this five force
model clearly reflect that it should make dealing with the competition because it is their main
priority, while other models are dos not focus on such areas while developing a business
strategy.
SWOT Analysis
As per the view of Kolte and et.al., (2019) Swot analysis is used to determine the internal
capabilities of the company which include strength, weaknesses, threat and opportunities. Further
this model is used to determine the internal environment of the company and it is used by the
existing business in order to asses their current situation and also determine the strategy that
helps to move forward. Thus, the SWOT analysis of Jet Airways is as mention below:
Strength: Jet Airways offer passenger and cargo services as well as lease the aircraft, the
company is also operates in the world and also has the vertically integrated all operations that
allow the supply the wide range of customers. Thus, vertically integrated operations is consider
as a strength of Jet Airways which gives a competitive advantage. Focus on innovation through
IT and E-commerce is also consider another strength of the company such that it combine its
service with the travel packages in order to provide better experience to the customers (Xu and
Dioumessy, 2019). Moreover, the company also launches smartphone airline application in order
help the users so that it enhance the operational performance.
Further, before closing of the service, Jet Airways has a strong customer service and also
provide inflight entertainment, frequent filer programs etc. Even the company also has its
international destinations such that it operates in nearly 20 countries that also leads to generate
the best results and also raise the financial performance as well. Apart from this, Jet Airways also
alliance with Etihad Airways which Is also consider its strength, through this, the company also
expand into new market and as a result, it increase the airline's international reach as well. Due to
have a strong network portfolio such that the company has 116 aircraft under this and run in 48
local destinations in India. Thus, it also helps to improve the operational margins as well.
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Moreover, Jet Airways is seen as the international company that is Airline based at the Mumbai
within an India. It is counted as leading domestic Airline in private sector. However, it had
started for a full fledged operations in the year 1995, Airline added several international flights
within its portfolio during the year 2004. The company is been seen as listed on the National
Stock Exchange of India and the Bombay Stock Exchange that is BSE. An organization is having
a code-share agreements along with large number of the international airlines for example-
Etihad Airways, Air France, Virgin Atlantic, Air Canada and many other largest airlines. Such
agreements allows the Jet Airways for offering its guest with the large choice of the destinations.
This Airline company provides services like On-board entertainment which are seen as very
much popular. Magazines and the newspaper are availed on the board with delicious beverages
and the meals. In addition to this, JetScreen is also available in the flights which allows the guest
in watching the Indian, regional, international, Hollywood movies and also could play the video
game on its personal devices like laptop, tablet and the smartphone. The company had earned the
number of the accolades and the awards over years. For example- Company earned a Most
respectful organization in hospitality and the travelling sector awards in the year 2004 by the
Business World.
Weaknesses: High competition from the LLC and other company also consider as a
weakness of the company and as a result, it decrease the market share growth. On the other side,
due to presence of other airlines on international routes which also makes Jet Airways difficulty
to have a significant market share, that is why, it is also consider as a weakness of the company
(Todorov and et.al., 2018). On the other side, from 2015, the financial performance of the
company is also decreases with its net margin and operating margin and as a result, it also affect
the company's future plans as well. On the other side, the airline's international market share is
quite low and as a result, it completely relies on the Indian market only. Therefore, the company
has a huge debt of around 8000 crore Rupees. For instance- Jet Airways is having a lower
market share and the company overly relies on Indian Market. Along with this, it is having huge
proportion of the debt of value around 8000 Crore.
In addition to this, another weakness of Jet Airways is such that most of the passengers
have complained over the years about the flight delays in different airports, but the operation
department of the company is so slow such that it respond slow to the customer complaints. That
is why, most of the customer leave to facility of Jet Airways. For example- many of the
24

passengers had complained over years about a delay in the flights at different airports. Most of
the people had complained about slow response of an Airline towards the customer complaints.
Opportunities: Having a brand image at international level, the company also generate
an opportunity when the global tourism industry will grow such that the international tourist
arrivals is increased up to 4.4 % in 2015, as per survey did by World Tourist Organization
(UNWTO). As the company is operates around the 20 international destination which means
that Jet Airways is going to be benefited by the growth . Another opportunity is such that the
company is expand its operations while partnering with Etihad Airways (Sezgin and Yuncu,
2016). As a result, the company generate better results by maximizing its operations. In addition
to this , when Jet Airways emerge, it shows a positive sign for the growth of Indian airline
industry in recent year. Such that with the CAGR of 11% in the financial year 2011 and 2015 the
industry is also expanded its operations and also increase the flights by dealing at international
level. Growing number of the people now a days are opting for travelling by an airline medium
and as with the growth of an Indian Economy, people are more becoming as financially solvent
and they often require for travelling from one city to the another. This seen as the big opportunity
for the Jet Airways in their domestic market. Similarly, tourism is seen as booming across the
globe and it offer a good opportunity for Jet Airways for growing its business in the international
markets.
Therefore, by expanding the current operations, the company also generate better options
to increase the overall working performance including financial performance (Vogel, 2016).
Further, the industry also expected to grow at the similar pace and as a result, it is beneficial for
the firm as well. Opening for more and more domestic routes and an international routes is also
seen as worth exploring. Similarly he Jet Airways could form a strategic alliance with the other
airlines and this could helps the firm in exploring for the new opportunities. For instance-
Strategic partner that is Etihad Aiways had signed the agreement with the Jet Airways by the
Maharashtra government for promoting the tourism to the western Indian state.
Threats: Currently, all the operation of the company stop and this is due to heavy debt
crisis. Further, Jet Airways also faces intense competition in the aviation industry such that it
faces tough competition from the domestic and international aviation and as a result, the prices of
the products and services also got affected and it stay ahead in the competition. On the other
side, due to increase in the pricing pressure, the operation margin got affected and it is consider
25

harmful for the industry (Rahman, Azad and Mostari, 2015). On the other side, regulatory
increase in the compliance cost is also consider as a threat for Jet Airways and it is so because
company has to abide by different statutory, transport and environment regulations which also
increase the compliance cost as well as it affect the operating margin as well. Company is facing
a fierce level of the competition from other Airline entities like Air Asia, Air India, Indigo and
Go Air and other companies in the domestic market.
In addition to this, rising fuel cost and labour cost is also consider as a threat for the
quoted firm because it affect the overall situation of the company in adverse way. For example, if
the government suddenly increase the fuel then the prices of services offered is also increases
and as a result, the customers will not ready to spend money and as a result, they also shift
towards another firm, which affect the overall financial performance. Likewise, there are many
Airlines which are providing the low-cost services in an Indian Subcontinent, Asia and the
Middle East. Such Airlines could make an operations of the Jet Airways as less competitive.
Increased compliance cost also poses a huge threat to the company as it abides by many of the
statutory, environment ad the transport etc. regulations that in turn impacts the operating margins
or the profits.
Thus, from the SWOT analysis, overall it has been interpreted that Jet Airways had
strengthen and expanded its business on worldwide level. Though it faces many challenges but it
had got various opportunities for attaining a growing success within the Airline Industry.
Pestle analysis
As per the view of Ochieng (2015) Pestle Analysis is the strategic management tool that
helps the firm to determine the external environment of the company such that As Jet Airways
sustain its brand image in India by providing the best services to their customers at reasonable
rates such that it helps to identify macro- environmental factor which affect the organization's
performance in both positive as well as negative way. The tool is also useful only when a new
business is start or entering in the new foreign market. This is consist of 6 element such that
political factor, economic factor, social factor, technological factor, legal factor and environment
factor that affect the business external environment.
Political factors: An Airline industry seems to operate its business in a highly regulated
environment where the passengers are been favoured over Airlines. It is because of fact that
safety of the passenger is counted as paramount and a political establishment had been weary of
26

Airlines and is resorted towards the strict regulations in relation to their operations because of
their prior inclinations in respect of the monopolistic behaviour. Further, with more competition
in this industry and the regulations in the demand, the passengers are present in the position
where they could push for the lower prices and the amenities. Thus, in context of Resende (2017)
political aspects the factors which affects the Jet airways is relating to imposing the polices
which is enhanced by the government in respect of dealing in such perspective. As government
had coordinated with the world trade organisation in respect of dealing in any such activities
which is accomplished by the Jet airways. Thus it results in facing impact to airways to sustain in
market for longer way.
Thus, in such aspects the effects arises in relation to following the government regulation
and also maintain certain polices at work place which affects the interest of the employees to
retain at work place for longer time period. In respect of undertaking the matter related to jet
airways they are not facing any such issue relating to militant operation or any criminal activity
which is faced by the civil people. Thus, in such manner Maria (2017) the impact which is
undertaken to jet airways is through changes in polices and norms which is fixed by the
government in respect of using the other country services for enhancing the business at larger
level. The positive impact of the political factors is raises in respect of securing the right of the
country in relation to reducing the movement of the business by expanding the business.
Economic: The 9/11 attacks had left with major effect that an Airline Industry seeking
for recovering from. Prolonged recession, imminent world level slowdown and fluctuations in
prices of oil are seen as other debilitating factors which affects growth of an Airline Industry.
The companies working under Airline industry has to look for coping with the economic
challenges like declining passengers, higher amount of fuel prices, labour demands, competition
and soaring the maintenance and the operating costs. In relation to Mangal and et.al., (2019)
economic factors, it results in causing impact to Jet airways through entering into new market or
also stipulating their present condition. As the impact arises in respect of having greater impact
on labour work force. Jet airways expended the business in many countries and also operating
their business at many places, thus in such aspects the impact raises in respect of recruiting the
right person to attain the task in better way. As in context of economy, the impact arise due to
facing high inflation rate in respect of providing services to customer. The focus is more on
services economy instead of managing the goods of the Jet airways. As every country had
27

different rates thus, high inflation rate resulting in increasing the prices of the airways which
affects the customer interest towards preferring such services in future perspective.
Additionally, the recent economic recession also made travel market to see the lowest
period in which both economy and premium travelling got declined. That is why, the airline
industry were also under in a pressure because they have to cope up with the increasing fuel
price. Hence, this clearly reflect that coping with this factor is quite difficult which in turn, leads
to creates difficulties or generating profits. Not only this, airline industry also struggling with the
increasing demand of labour from the part of the employees and this in turn leads to increase the
bankruptcies of the major airline industry especially for Jet Airways.
Social: this factor deals with the changes of people's perception and in this modern era,
every individuals needs only comfort and reasonable rates. That is why, airline also creates social
values in the same way as a business cope up with the changing preference of the customers.
Hence, in order to meet the changing demand of customers, airline industry needs to
incorporating changes as well. Over years, millennial emergence of the generation in the
consumer class had resulted in the majority of the social changes, most importantly in context of
the service where consumers had become as more and more demanding. Thus, for meeting an
increasing demand of this sector, Airlines had to stabilize its costs. In addition to this, passengers
profile had also changed with its being more and more economically minded as passengers. At
the time when it comes to the passenger of business class, improved level of communication
facilities had reduced a requirement in flying down for the meetings. Through the decision of Ali
(2019) the factors that impact upon the jet airways is relating to using the leisure services as due
to changes in demands of the customer they are preferring more comfortable services. Thus,
through this perspective, the changes which is causing impact to Jet airways is relating to
promoting the business on such countries which carries lot of population.
As in respective of this aspects it carries the positive impact to business as by this aspects
they are gaining more of the profits. As lot of people are preferring to travel through this
business and also prefer such services if they are fulfilling the customer needs. The impact also
arise in respect of changes in demand of the customer (Kim Nga Nguyen, 2015). The taste of the
customer are changing due to changes in time thus, in such factors the negative issue raises to Jet
airways by not recruiting the right person to attain the task in better way.
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Technological: In order to survive with an intense competition in an Airline industry,
latest technology has to be adapted by the companies for surviving within the already
challenging environment. In addition to this use of the latest technology in the aircraft would not
seen as the only lower factor of the fuel consumption but also a cost of an airline operations and
an improved efficiency. The impact which arise to jet airways is relating to using the e-
commerce facility. As in this perspective, most of the business are promoting the business
through online and thus able to attract the customer towards the products and services which is
offered by the company. Thus, in aspects they had to use the advanced technology to build the
strong base of customer to attract them towards the business (Chen and Pawlikowski, 2015).
The impact also raises in respect of maintain the intellectual property right and also carry
the patent rights in respect of dealing in any activity. Thus, in such aspects the positive impact
which arises is resulting to determining the strategies of the market in respect of using the
advances technology. By this aspects they can personally interact with them by promoting the
business through digital platform. The negative impact which arises is resulting to undertaking
various rights which is infringed through using the services through online platform. Thus, in
context of using the advanced technology high and skilled person is appointed which is carrying
the adequate knowledges of the working (Chernov and Sornette, 2020). They also carry the
knowledges in respect of resolving any issue which is faced by them to interact it customer and
solving their issues. Moreover, the aviation industry also conduct advertising campaign on the
social platform in order to attract clients. While on the other side, failing to be tech- savy may
also result in loss of clients. Therefore, it clearly shows that technology factor creates both
positive as well as negative impact upon the aviation industry.
Legal: the impact which is faced by the Jet airways is relating to imposing strict norm
which is to be followed by the company in respect of retaining the customer and employees
interest. The laws relating to health and safety law, data protection act are to be imposed on
airways and it is the duty of Jet airways to deal with it in right manner. Thus the positive impact
which arise through legal aspects is that it secure the right of the employees by facing any such
injuries at work place (Izinyon and et.al., 2018). If the employees faces any injury through any of
the activity which is undertaken by them, than in such aspects the law secure their right in better
way. The negative aspects which is faced through this perspective is that if Jet airways had not
conduct any thorough knowledges about the market strategies it resulting in facing major losses
29

to company. As every country had different polices which they applied in business, thus
adequate polices are to be undertaken in respect of providing judgement to respect employees.
Therefore, it is also analysed that there are many laws which are devised for the air traffic
and the safety and security of passengers. As their main concern is safety for the passengers.
That is why, it is quite necessary to comply all the legal laws related to airline industry and as
airline are also responsible or liable for the air crashes. That is why, it is quite necessary to keep
regulated all the acts related to air transport and also made new laws which helps to maintain the
overall industry. Thus, Jet Airways also comply with all the laws that may creates negative
impact upon the business.
Environmental: Jet airways major impact is relating to environment changes which
affects the interest of the customer to prefer travelling through air. Through this factors it affects
the interest of the customer, as Jet airways mainly business depends upon the sustainable
environment. If they faced any changes in environment it resulting in facing cancellation in flight
which results in distracting the mind of the customer towards the services (Seto and et.al., 2016).
As customer already made investment with Jet airways and through facing climatic changes
resulting in shifting their interest to some different airlines. This causes negative impact to Jet
airways to retain the customer interest for longer time period.
Additionally, with the changes in climate, passengers are also counting their carbon
footprint with the results that they are also now become more environment conscious. That is
why, it is analysed that airlines are actually forced to adopt 'green flying' and become more
responsive so that it did not create any harm to the environment. Further, in this, the social
responsibilities initiatives are also become more pronounced and more under the scrutiny as a
consumer as well as activist which in turn helps airline to also work under the corporate social
responsibilities. Further, providing positive environment to the passengers and provide
comfortable travelling is the positioning strategy of Jet Airways.
Thus, pestle analysis of Jet Airways and an Airline industry showed various factors in
relation to the external or macro environment which could affect the industry adversely and also
acts as the positive growth of the Airline company. Coping with these factors helps an Airline
company in gaining a leading position in the overall market around the world. That is why, it is
quite necessary for the Jet Airways or aviation industry to make sure that if there is a stability
within the country, will help the business to creates a brand image at international level.
30

Lesson from Jet Airways for strategic planning
From this failure of Jet Airways it is analysed that if the business have effective strategic
planning, then it will definitely allow organization to be proactive as compared to reactive. Such
that a good strategic planning will make a bright future of a business and also provide right
direction through which the business may run (Franco and et.al., 2020). Moreover, while
developing a strategic planning for Jet Airways, management did not use effective planning
through and as a result, the business fails. Thus, from this cause, it has learnt that there must be
clear and effective communication between each and every stakeholders so that they all helps to
make proper decision and may also react to sudden changes. This is not done in the case of Jet
Airways and this in turn, affect the overall, business in opposite manner. Another key aspect of a
strategic planning is increase profitability and market share which is actually used by Jet
Airways but on the other side, continuously purchasing shares from another firm will lead a
business towards a loss. Then a situation comes when Naresh Goyal did not money to repay all
its debts to bank and that is why, company is declared as bankrupt.
Additionally, it is also analysed form this, that due to poor management Jet airways leads
towards failure because all the decision taken by only Chairman that clearly shows that he
adopted autocratic leadership style, which is not better. By comply with this style, Naresh Goyal
did not even asked with his management team and never involve them to make any decision.
Therefore, this further leads to affect the entire management system in opposite manner. It is
analysed by Upadhyay (2019) that when a corporate work in wide range then, it is quite essential
for the business to involve all the team to make decision better by taking their views and
implement the same. Thus, it is clearly analysed from the secondary research that poor
management is consider the main reason for Jet Airways failure and that is why, it is learn that
when employees leave the company because firm did not valued them and this in turn also leads
to job dissatisfaction as well. That is why, due to poor management, company will also decrease
the productivity level and this in turn, also damage the company's reputation too. The same is
happen with Jet Airways and that is why, quoted firm leads towards failure.
Additionally, poor management also causes due to ineffective time management and
inadequate timing that affect the overall working of the company in just opposite manner.
Therefore, when Naresh Goyal start taking advice from their management team or experts and
31

then invest into other company, so that it will help the business to prevent from decline as well as
failure. Moreover,it is also critically analysed from the Jet Airways failure that company did not
easily attract investors because of low financial performance of the company (Tikku and
Sherman, 2019). While, when a company make an effective strategic planning that it must
includes its entire team so that they suggest chairman whether to invest in this or not. Overall, it
is further learn that company must have their own differentiation strategy that helps a business to
keep attracting new investor. Or else, if the financial condition of the company is proper or
stable, then other company automatically ready to invest within a firm and this in turn helps to
generate the brand reputation within a market.
Thus, a good strategic planning of Jet Airways will help the business to increases its
operational efficiency and because it provide a roadmap through which all the organizational
functional activities may easily align in order to attain the goal. Unfortunately it is not happened
in the case of Jet Airways because of complying with singly leadership style and chairman only
make decision himself by accomplishing the set objectives. This is actually wrong such that in
the context of Indian Airline Industry, there were low cost airlines and thus, Jet Airways
offering cut price fares and not having effective budget plan (Jones and Chauhan, 2019). As a
result, this leads a business towards failure and management did not take proper care this in
turns, leads a business towards low financial performance. Therefore, it is learn from this failure
reason that in order to avoid the high competitive market, company have to develop their unique
image rather then trying to copying other. As Jet Airways also earn an award of launching most
innovative product and this also helps it to sustain the brand image at international market.
Providing proper budgeting is another key aspect of the strategic planning and that is
why, every company makes proper forecasting while developing any project. In the case of Jet
Airways it is not proper and even company did not make back up plan which may support it
when company faces fluctuation with regards to its finance. Moreover, it is also learn that an
effective budget forecasting will help to lead an entire business towards right path or direction.
That is why, when any company wants to establish new business, make sure that it must have
proper back up plan such that in the case of Jet Airways, Naresh Goyal did not have any future
plan which leads his business towards failure. He has only one option to step down from all and
that is actually he was done and as a result, government has to shut down all operation of Jet
Airways (Christensen, 2019). Therefore, this cause of failure helps to understand that it is quite
32

essential for the business to have proper knowledge related to budget and only invest in those
things which helps a business in its future.
In addition to this, it is analysed that Naresh Goyal purchase costly items without
consulting their management team such that it invest money to purchase Air Sahara in 2006 and
also ignored his Board of Members advice. Therefore, this helps to learn that each decision
should be take by consulting experts and there is no need to purchase costly material without
analysing the future benefits. As this affect the business durability, while when a business
perform an effective strategic planning then it must comply with all the changing needs of
customers but it does not mean that company should start purchasing costly material, which
Naresh Goyal did . Therefore, it is also learn from strategic planning that with the constantly
changing industries and world market, every organization have to lead a strong foundation and
also focus in the next wave so that it will definitely assist them to lead a business towards
positive change.
Hence, there are many loopholes and causes of Jet Airways failure and among all, poor
management is the strongest one. That is why, from these all causes of failure, it is evaluated that
a business will long lasting only when the team effectively work together and there must be a
clear understanding between all the Board members and staff. Further, proper delegating and
involving all the members into decision making will assist the business to generate better sources
of funding and also help to make effective planning by take all the advantages of opportunities
instead of reacting them (Morrison and et.al., 2019). Additionally, while develop strategic
planning, Jet Airways must set clear future direction and also clarify how the company will plan
for this future and also properly respond to the change as well. So, the lesson learn form the jet
airways for a strategic planning that management or chairman must have a proper planning and
also consider other external factor which may also affect the overall plan in adverse manner.
As per the reason of failure, Jet Airways also fail because of fluctuating oil prices which
in turns associate with the economic factor. In this, when there is weak economic condition of
the country, it directly leads to increase the prices of the product and that is why, company have
to develop strategies that helps to cope up with the situation. But Jet Airways did not take any
action and that is why, the company had to shut down its operations. That is why, it is learn that
company should develop the strategies prior while establishing a strategic planning because it
help the business to take immediate action and cope with any complex situation as well. Further,
33

this is also evaluated that in order to develop a strategic planning, manager must includes all the
key aspects because it will help to improve the overall performance and also leads the significant
importance as well (Kiasadegh and et.al., 2020). Like, by focusing on proper management
company will delegate the duties to all the employees in equal manner and also serve more
clients as well. On the other side, it is further learn that through teamwork and involving others
into decision making process will help to identify the challenges and solution that further leads a
business towards success. Hence, a forwards thinking also raise that assist a business to generate
more opportunities for future and these all are lack by the Naresh Goyal when he establish
strategic planning for Jet Airways.
Clearfield and Tilcsik, (2018) said that, Corporation management is considered to be an
effective process of administrating, leading and directing the company. It helps in managing the
performance and resources of the which in turn leads to attainment of organizational goals and
objectives. The management of the Jet Airways has learnt that, there was a lack of back up plan
within the organization which in turn has led to crash in the financial funds which in turn has led
many passengers stranded. The company must focus on creating an appropriate and strong back
up plan in order to attain higher results and outcomes. It has been interpreted that, Jet airways
must not have jumped into so many things when they tend to do not have any financial back up
fund and also do no have any professional related with that field. Pre- defined effective back up
plan in turn helps in scheduling various sets of business information in order to take necessary
measure in case of any failure or mis- happening of the business corporation. After corporation
management from Jet Airways it has been learnt that, Jet airways must focus on trying to
maintain or balance profit and equated monthly instalments of banks. This in turn helps in
balancing the cash flows of the Jet airways and in turn leads to higher operational growth and
efficiency of the business. Keeping sufficient amount of fund for the investors in order to assess
the financial health of the jet airways (Clearfield and Tilcsik, 2018). It is also useful for the
manager to understand the underlying trends and the financial position of the organization. After
corporation management from Jet Airways it has been learnt that, Jet airways must not give stake
holdings for the foreign companies because they in turn are not likely to be interested in the
growth of their company. Proper corporate structuring is considered to be necessary because it
helps in taking best decision for the sustainable growth and development of the company.
34

Ownership divergence is not considered to be as the appropriate measure where the foreign
stakeholders of the organization do not tend to carry out business operations.
Jory and et.al., (2019) sought to evaluate that, The management of the company must
focus on hiring good advisors who in turn can help in analysing the operations and financing of
the company. It helps in taking strategic decision related with the operations and capability of the
business. A good financial advisor in the company tends to effectively understand the financial
capabilities and goals of the company. The financial advisor in turn helps in managing the
finances of the company and in turn helps in saving and investment in order to attain higher
operational goals and objectives of the Jet airways. I have learnt that, the capable CEO is
considered to be very necessary for running company (Mangal and et.al., 2019). An appropriate
CEO within the company is largely responsible for managing the finances of the company and in
turn also reports to the stakeholders on the timely and appropriate manner. The CEO is
considered to be as the public image of particular organization in order to maintain effective
public relations and marketing relations. An effective CEO of the company tends to take various
major corporate decisions in order to manage the resources and overall operations of the
company. Thus, an effective and capable CEO within the organization who in turn have
complete knowledge about their business and business environment in turn is considered to be
very capable to effectively run the business.
Gudmundsson, (2016) determined the fact that, The management of the company must
focus on settling their debts or any bank money as quick as possible or otherwise it will result in
high debt to the company. This in turn leads to paying of higher interest rates which in turn leads
to lower profitability and financial incapabilities for the business. I have also learnt that, having
the male crew within the flight is also considered to be one of the bad decision for the Jet
airways because this in turn results in increase in the flight weight which in turn largely affects
the business operations. One of the key issue faced by the financial structural problem is that, it
tends to result in heavy reliance on the leased aircraft (Hamilton and Micklethwait, 2016).
Leasing in turn helps new airlines to effectively get off the ground in turn results in higher
expansion and growth. This in turn tends to result in higher operational expenses which leads to
lower profitability and higher debt ratio for the Jet airways. In turn it has been learnt that, leasing
of airlines is done to reduce the financial burden of buying aircraft and in turn it also tends to
render temporary increase in the capacity. Leasing of aircraft in turn results in higher short term
35

cost for the business. This in turn also leads to higher financial burden of the Jet airways.
Leasing of aircraft in turn also results in lack of power over the quality of aircraft. Jet airways in
turn has used tax payer money in order to rescue the airlines (Kim Nga Nguyen, 2015). Jet
airways has fired around 1000 employees in order to reduce the cost of the company. It has been
learnt that, Employees are considered to be one of the most crucial measure in order to improve
the brand image of the company. After corporation management from Jet Airways it has been
learnt that,, merging with the Sahara airlines and rebranding the same as Jetlite is one of the
major reason for the failure for Jet airways. This in turn has resulted in huge operational cost.
After corporation management from Jet Airways it has been learnt that, Jet airways tend to keep
on taking debt which in turn results in higher financial burden. The company is also considered
to be as the full operating service airline which results in business failure.
36

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