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.