In 1992, Naresh Goyal started on a journey to build the best airline in India, Jet Airways. With rising market share and revenues, Jet Airways began climbing up the ladder of success. It gradually became one of the household names in the Indian aviation sector. In 2005, it came up with an initial public offering (IPO) to reach greater heights with large investments from the funding raised. A ‘paradigm shift’ in the Indian airline business came in 2006 with the increased competition and entry of low-cost carriers. The rise in the competition impacted Jet’s turnover, which was ultimately reflected in the diminishing profitability margins. With a series of industry challenges and questionable managerial decisions, Jet became a debt-ridden and loss-making enterprise from being one of the leaders in the aviation sector. Eventually, in April 2019, Jet Airways temporarily ceased its operations because of a lack of funding available to sustain it. The consortium of lenders, led by State Bank of India (SBI), faced a serious dilemma; whether to revive the airline by looking for potential investors or declare Jet bankrupt and begin the bankruptcy proceedings.