I'd say there are too many I can think of:
Indian Airlines
Eastwind Airlines
Air India (almost bust)
However, I do know which airlines I want to go bust:
Ryanair (generally expensive charges)
Spirit (terrible legroom, horrendous charges such as $100 for a carry-on bag)
Thomson (ridiculously stringent hand baggage regulations)
And many more I couldn't think of at this point.