Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal on Monday stepped down from the board of the aviation company due to an acute financial crisis. The board will now be run by bank-appointed officials.
In a filing to the stock exchanges, Jet Airways said Naresh Goyal, Anita Goyal and one nominee of Etihad Airways PJSC would step down from the board. Abu Dhabi-based Etihad is a strategic partner with 24 per cent stake in Jet Airways. Naresh Goyal would also cease to be the chairman, the filing said.
Lenders will nominate two members to Jet Airways board. Meanwhile, an interim management committee will be constituted to manage airline's daily operations, the filing said.
The lenders will give Rs 1,500 crore to Jet Airways in urgent funding, it said.
The news has had a favorable response in the share market. In afternoon trade, shares of Jet Airways rose nearly 15 per cent to Rs 261 on the BSE.
The airlines, which has been operating for over 25 years, is currently under a debt of over Rs 8,000 crore. The company is seeking to restructure its debt and raise funds. The airline has suspended operations on at least 14 international routes till end-April and over 80 planes are on the ground. As many as 54 aircraft have been grounded due to non-payment of lease rentals.
(With inputs from agencies)
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