Four top Jet Airways executives resign in a day as revival hopes dim
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May 15, 2019 - by Saurabh Sinha for indiatimes.com
- Sources say the three quit after it became clear in last two days that Etihad's offer to invest in Jet may not be enough to make the airline fly again
- In the past few months, a number of Jet's directors including former chief election commissioner Nasim Zaidi have also resigned
NEW DELHI: With no hope of revival, at least anytime soon, Jet Airways saw four of its top people exit — chief executive officer Vinay Dube, deputy CEO-and-CFO Amit Agarwal, chief people's officer Rahul Taneja and company secretary-cum-compliance officer Kuldeep Sharma — on Tuesday. The four quit after it became clear in last two days that Etihad's offer to invest in Jet may not be enough to make the airline fly again.
The Abu Dhabi-based airline has put a string of conditions like saying it won't be able to invest over Rs 1,700 crore; it will limit its stake to 24% in restructured Jet; it wants lenders, who have over Rs 9,000 crore exposure to Jet, to find a majority stakeholder to partner with it and also take a significant haircut to the loans...