Debt trouble: All Jet Airways needed to avert this tailspin was a rupee

Jet Airways - India's longest-surviving private airline now needs bankers with spine to keep flying

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

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

It’s been clear for some time that Jet, falling behind even on pilots’ wages, was going to skip a debt payment soon. Now that a default on bank loans has finally happened, let’s spend a minute on the brutal economics of the missing rupee.

As a full-service carrier, India’s second-largest airline spends that much more per available seat