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@article{187203,
        author = {Saniya Mishra and Rudraksh Anand},
        title = {From Economic Reform to Insolvency Reform: A Legal Analysis of Airline Distress and the Evolving Framework of Insolvency Resolution in India},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {6},
        pages = {5051-5061},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=187203},
        abstract = {Industries capture the spirit of globalization in a country. In India, the aviation industry opened the wide skies after the economic reform of 1991, Liberalisation, which encouraged the private sector to enter the airline market, Privatisation, which enabled operational competition, and Globalisation, which expanded the demand for international connectivity. Over the next three decades, India’s aviation sector emerged as one of the fastest-growing in the world, symbolising the aspirations of a liberalised economy which transformed air travel from a state-controlled service into a competitive, fast-growing industry. Another historic change that India implemented is the Insolvency and Bankruptcy Code (herein further referred to as IBC), 2016, which addresses the broader issue of corporate distress and transformed India’s economy. The IBC’s real assessment, anyway, lies in the globalised sector like aviation, where it will have to deal with issues like leased aircraft, cross-border claims, and regulatory barriers that ultimately decide whether distressed airlines may be revived or forced to fail. This was an eye-opener scenario for a country like India, where IBC is in the evolving stage, and every new scenario gives a new vision and interpretation of the law. This raises a serious question about whether the insolvency framework in India is equipped to secure revival in this sector.  Therefore, the present paper seeks to critically examine the evolving insolvency framework in India under the IBC, with a focus on the aviation sector. It will further evaluate the effectiveness of the resolution framework through recent developments, notably highlighting the insolvency filing of SpiceJet and the case Go First Airlines (2023), which underscores the sector’s transition from insolvency proceedings to liquidation.},
        keywords = {Aviation industry, Distressed Airlines, Globalisation, Insolvency Resolution Process, Liberalisation, Go-First Airlines},
        month = {November},
        }