Billionaires and their airlines: Will Go Air go Kingfisher way?

Go Airlines India Ltd.’s CEO Kaushik Khona quit due to the carrier’s inability to resume operations and unpaid staff. The airline has canceled all flights until Feb. 4. Jindal Power Ltd., the potential buyer under the insolvency resolution process, has decided not to bid. Go owes around 65 billion rupees ($780 million) to financial creditors. Liquidation may be imminent as the resolution process has stalled. The country’s biggest carriers, IndiGo and Air India, dominate the market.