Jet Airway’s Naresh Goyal, wife step down

Jet Airways, National Company Law Tribunal, State Bank of India, Lenders, The Federal, English news website
Jet Airways became the first domestic airline to go into bankruptcy. Representative image. Photo/PTI.

Jet Airways’ founder Naresh Goyal has stepped down as chairman of the group today. According to reports, Goyal and his wife Anita have left the board of the cash-strapped airline. A further report, in The Economic Times, says that a consortium led by State Bank of India will take control of the company and a new board will replace Goyal and his team.

Riding on a debt of over $1 billion, Jet is barely staying afloat. It recently suspended 13 international routes, which is just the tip of the iceberg. In case the crisis-hit airlines collapses, 23,500 jobs could be at stake. This comes as a big worry in the wake of pilots choosing not to fly over unpaid salaries.