London | Jet Airways Chairman Naresh Goyal and his wife Anita Goyal today stepped down from the board of the Jet Airways amid ongoing financial crisis. The final decision will be announced after the Airways would notify it to the Stock Exchange.
After Goyal’s resignation, his stake in Jet Airways got reduced from 51 percent to nearly half 25.5 percent. Etihad Airways stake in Jet Airways has also been reduced to 12 percent. Even the stock of the Jet Airways got boomed to over 12.4 percent giving it the biggest gain for the airline since January 14.
The decision has paved way for lenders, led by the State Bank of India (SBI), to invoke the entire 51 percent of Goyal’s share and rescue the airline on an immediate basis. The airlines has reportedly faced a net loss of Rs 587.77 crore for the third quarter of the current financial year against its a year ago net profit of Rs 165.25 crores.
Earlier reports emerged before the airlines’ board meeting that lenders had demanded Naresh Goyal’s exit to infuse funds into the troubled airline. Lenders wanted Naresh Goyal to give up controlling stake and exit the board for fresh funding.
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