India's High-Flying Airlines That Have Become History Now

#4.Paramount Airways

Paramount Airways was an airline based in Chennai, India. The airline started operations in October 2005 with the company headquartered in Madurai.  It operated scheduled services, mainly targeting business travelers. It operated to regional destinations in south and eastern India until early 2010. The airline ceased operations when legal issues arose between Paramount Airways and the lessors of their Embraer aircraft. These events caused a gradual termination of all services as the fleet was grounded and seized by the leasing companies.

#5.Kingfisher Airlines

Kingfisher Airlines was founded by Vijay Mallya in 2003. Its head office is in Andheri, Mumbai and registered office in UB City, Bangalore. The airline faced many financial issues for many years with huge unpaid loans to banks, months of salary arrears to employees. The DGCA suspended its flight certificate on 20 October 2012, hence the services were shut down.

#6. JetKonnect

JetKonnect was a marketing name for Jet Lite, which is an airline based in Mumbai, India. Owned by Jet Airways,founded by Naresh Goyal.  The airline operated scheduled services connecting metropolitan centres in India. Originally operated under its own name Jetlite, it began to trade as JetKonnect in 2012. It was shut down in December 2014 as part of Jet Airways' plans to reposition itself as a uniform full-service operator.

READ MORE: India Contributes $ 500,000 To UN Fund

IMF Agrees To Release $1 Billion To Pakistan