Naresh Goyal agrees to step down as chairman of Jet Airways
Team Udayavani, Mar 1, 2019, 4:30 AM IST
Mumbai: Beleaguered Jet Airways’ Chairman Naresh Goyal has agreed to step down as the lenders gear up to acquire majority stake in the airline under a bailout plan, a source said Thursday.
When contacted, Jet Airways Vice-President for Corporate Affairs and Public Relations Ragini Chopra said she is “not aware” of the developments.
The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways Chief Executive Officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
The Gulf-based carrier holds 24 per cent stake in the Mumbai-based full service airline, founded by Goyal 25 years ago.
State Bank of India is the lead lender of a consortium that has extended loans to Jet Airways, which has been grappling with financial woes and is looking to rejig debt as well as raise funds.
On February 14, Jet Airways’ board had approved a Bank-Led Provisional Resolution Plan (BLPRP), whereby lenders would become the largest shareholders in the airline.
Its shareholders have also approved conversion of loan into shares and other proposals during the extraordinary general meeting on February 21.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
Elon Musk says India visit delayed due to Tesla obligations
MUST WATCH
Latest Additions
Intense heat wave in eastern states spreads to south India
Sexual harassment case against ex-WFI chief: Court to pass order on closure report on May 20
Modi is ‘Vish Guru’, never respected ‘magalsutra’: Jairam Ramesh
TCS World 10K: New starting point, meticulous arrangements in place
Congress complains to EC, alleges ‘misinformation’ by BJP about manifesto