Jet Airways’ Chairman Naresh Goyal and his wife will resign from the airline’s board. The news was reported by Reuters on Monday. The reason behind the stepping down was as the cash-strapped Indian carrier closing in on a rescue deal led by state-run banks.
Chief Executive Vinay Dube is expected to stay on board. The 25-year-old airline was set up by Goyal with his wife in 1993.
Earlier this month, it was reported that Goyal had agreed to step down as chairman and reduce his 51% stake in the airline.
Saddled with a debt of more than USD 1 billion, Jet Airways owes money to banks, suppliers, pilots and lessors. The report says that several of them started withdrawing leases from the company.
Post Your Comments