Business Companies 25 Mar 2019 Jet Airways founder ...

Jet Airways founder Naresh Goyal may step down as chairman today: report

DECCAN CHRONICLE | Edited by : CHANDAN.P
Published Mar 25, 2019, 10:36 am IST
Updated Mar 25, 2019, 11:05 am IST
The formal announcement on the Goyals exit is anticipated later today.
Jet Airways Founder Naresh Goyal. (Photo: PTI)
 Jet Airways Founder Naresh Goyal. (Photo: PTI)

Mumbai: Debt-laden Jet Airways Founder and Chairman Naresh Goyal, and his spouse Anita Goyal are going to quit from the board on Monday, according to ET Now.

The formal announcement on the Goyals exit is anticipated later today.

 

Jet’s moneylenders consortium may invoke the complete 51 per cent stake of Naresh Goyal within the airline, and begin searching for a new buyer within the coming weeks.

The current chief executive officer (CEO) Vinay Dube is anticipated to remain on board and bring Jet out of the current crisis.

Jet Airways burden with more than USD 1 billion of debt. It has deferred payments to banks, suppliers, pilots and lessors for months of which lessors have constrained the airline to ground as many as 40 planes.

Abu Dhabi's Eithad Airways, which owns a 24 per cent stake in Jet Airways, is however reticent to provide interim funding of about 7 billion rupees (USD 99 million) to Jet Airways, the source said. 

Jet Airways did not immediately respond to a request for comment. 

 

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