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Goyal’s Resign From Jet Airways Board | Goyal’s Quit Jet | Saving Jet

Goyal’s Resign From Jet Airways Board | Goyal’s Quit Jet | Saving Jet

ET NOW NEWSBREAK CONFIRMED! It’s curtains down on the ongoing crisis at Jet Airways, at least for now. The founder of the debt-ridden airline Naresh Goyal and his wife Anita have stepped down from the board. Goyal will also cease to be the chairman of the airline he set up more than 25 years ago. Goyal’s stake will be cut to 25.5% from the current 51%, while Etihad Airways’ stake in the debt-laden carrier will also be halved to 12% to make room for the banks to take a controlling stake of 50.5%. The lenders will infuse Rs 1,500 cr into the airline immediately and also initiate a bidding process to find a new buyer by the end of June. Moreover, apart from the Goyals, one nominee of Etihad Airways has also stepped down from the board. Two nominee directors representing lenders have been inducted into the board.

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