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Jet Airways' Naresh Goyal To Step Down As Chairman Today: Report

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As per a leading business channel reports, cash strapped Jet Airways line may today be witness to stepping down of company's founder Naresh Goyal as chairman. Also his wife Anita Goyal is expected to leave the board.

 

Jet Airways' Naresh Goyal To Step Down As Chairman Today: Report

Further as per the Reuters report, Goyal has agreed to cut down his stake in the company by 51%. Also the report cited that the company's lender may invoke his entire stake in the company and seek a new buyer of the 25-old airlines.

The company is heavily in debt to the tune of $1 billion and has deferred payments to suppliers, pilots, lessor and banks. And due to it the company has been grounding its planes every now and then.

In 2013, when the airline was in a similar cash crunch, Etihad Airways came at its rescue and injected a sum of close to $600 million and bought some 24% stake in the company.

GoodReturns.in

Read more about: jet airways naresh goyal
Story first published: Monday, March 25, 2019, 10:17 [IST]
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