Is merging Air India and Jet Airways the way to save the sinking airlines?

Given the politically hazardous need for state banks to absorb losses, it's unlikely that any such resolution will come before the elections

To have one airline limping forward on the brink of bankruptcy may be regarded as a misfortune. To have two looks like carelessness.

That’s the fundamental problem for India’s aviation industry, home to the critically ill Jet Airways India Ltd. and its state-owned rival Air India Ltd., which more or less died in 2012 but has been kept on life support thanks to ongoing infusions of taxpayer cash.

Facing collapse, Jet has been trying to restructure its debt and seeking bailout money from founder Naresh Goyal and leading shareholder Etihad Airways PJSC. Should those attempts fail, Prime Minister Narendra Modi will have