Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
TM
Wed, May 22, 2019 | Last Updated 1:05 pm IST

Menu &Sections

Search

Why Jet Airways CEO resigned immediately?

Why Jet Airways CEO resigned immediately?
Why Jet Airways CEO resigned immediately?
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Reportedly hours after the CFO of Jet Airways resigned from the company, Chief Executive Officer Vinay Dube too has resigned from the company with immediate effect. Meanwhile, according to filings with stock exchanges, Dube has resigned from the services of the company due to personal reasons. Furthermore, this is the third major exit from the company after CFO and deputy CEO Amit Agarwal resigned with effect from May 13, 2019, due to personal reasons.


Reportedly a few days prior to this, another top executive, Gaurang Shetty, considered close to founder Naresh Goyal, resigned from the board of directors. Meanwhile cash-strapped airlines Jet Airways suspended operations on April 17 after lenders failed to infuse emergency funds to keep the airline afloat. Apparently with salaries pending for months, hundreds of employees, including pilots and ground staff, left the company to join other airlines.


Moreover after lenders took over the company, search for new investors has been on. Jet Airways owes lenders, led by SBI, over Rs 8,400 crore. Hence Private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways had been shortlisted to submit their bids after they gave their EoIs. Recently Etihad put in its offer with several conditions. Further apart from offering to infuse only Rs 1,700 crore, Etihad wants lenders to find another majority buyer and has also asked the banks for a one-time settlement with operational creditors.


Why Jet Airways CEO resigned immediately?
5/ 5 - (1 votes)
Add To Favourite
More from author
Will TV9 CEO be granted anticipatory bail?
TRAI could come out with a separate consultation paper on video OTTs
Will Sumalatha overtake Kumaraswamy's Son in Karnataka Exit Polls?
Another person attacks Pawan Kalyan
Modi is definitely not Vajpayee
What Arvind Kejriwal spoke to Akhilesh Yadav over telephonic conversation?
Stalin keen on cabinet berths for DMK & not following principles: AIADMK
Actress Elle Fanning faints at Cannes and shocks fans around!
You can work as a Social Media Manager and your salary is 26 Lakhs!
Ahmedabad man covers his car with COW DUNG to keep it cool...
Indian Coach speaks about MS Dhoni before World Cup 2019
Nizamabad witnessed highest temperature in Telangana at 44.4 degree Celsius
What did JD Lakshmi Narayana say about Exit Polls?
Did Sonia Gandhi invited leaders of United Progressive Alliance in Delhi?
What do astrologers & numerologists says about election results?
Twinkle Khanna mocks Modi by doing Meditation like him
Namo channel disappears from all TV the very next day after the Elections!
Why should I apologize? Vivek Oberoi slams Netizens for his Aishwarya Rai meme
CBN's meet with Mamata Banerjee is a whiff of worry!
What are the results of Exit Polls in Telugu states?
Who is the best politician Chiranjeevi or Pawan Kalyan?
Tamilnadu exit polls suggested AIADMK would get 10-12 seats in 38 constituencies
Exit Polls predictions from opposition leaders aspects
Exit Polls at Delhi predicts another term for PM Modi
Majority says YS Jagan to be next AP CM
What are Exit Polls results from AP?
Will PM Narendra Modi led NDA government win LS Elections as per Exit Polls prediction?
Why Janasena MLA candidates warned Pawan Kalyan?
Free Indias first extremist was a Hindu referring to Godse: Kamal Hassan
Man unites with family via Facebook!
Doctor spreads AIDS across Pakistan!
Virat Kohli blasts a century!
Oxford check for Rahul Gandhi!
Exit polls in India have not always had best track record
Is India getting the leaders they deserve?
How Sivaji breaks silence on dispute of TV9 Ravi Prakash?
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.