And what about thousands of people working for these organizations.
Sad but a fact of life. People loose jobs all the time. Unfortunately business is not a charitable institution. No other answer besides that cause this is the reality across the world.
Business men and management people are not really bothered about people's feelings, sentiments, suffering etc.
To be a good successful businessman, you should be immune to emotions.
Good business people are worried all the time as they realize people make up a considerable part of their model. However if the times change and there is a need to survive a tough decision needs to be taken to trim a few jobs to save many more.
To be a successful business person you need to have a sound business plan and not a plan that is hinged entirely on an exit strategy a la deccan.
I still stand by original statement that fewer airlines in India will be better for the entire aviation industry including the employees who will then see sustainable growth. Doubt Rs 1 fares were enough to pay the salaries ever.