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Monday, March 25, 2019

Jets Airways founder Naresh Goyal, wife Anita Goyal’s exit confirmed

https://www.technologymagan.com/2019/03/jet-airways-share-price-jumps-amid-reports-that-naresh-goyal-will-step-down-as-chairman-key-things-to-know.html
Jets Airways founder Naresh Goyal, wife Anita Goyal’s exit confirmed

Even Jet Airways has been roaming under financial pressure, Naresh Goyal and wife Anita Goyal have paved the way for the renewal of the airline with the renewed funding. Shares of private sector airline Jet Airways increased the rally in afternoon trade on Monday when media reports said that Naresh Goyal has stepped out of the board. Shares of Jet Airways jumped 14% to reach the highest level of the day at Rs 259.


Jet Airways said that by issuing suitable debt instruments to protect its assets, the lenders would get immediate assistance upto Rs.1500 crores, which would normalize the operating level of the company.Naresh Goyal and Anita Goyal agreed to withdraw from the board, Jet Airways confirmed the exchanges in a statement. "Two promoters of promoter. Mr. Naresh Goyal and Mrs. Anita Goyal, and Etihad Airways, a nominee of PJSC to leave the board. Apart from this, Shri Naresh Goyal also avoids becoming Chairman of the Company.Naresh Goyal's share will now be reduced from 51% to 25.5%. Sources said that the total share of lenders is 50.5%.According to ET Now, the stake of Etihad Airways will now be reduced from 24% to 12%. Bothered by debt of more than $ 1 billion, Jet Airways has money for banks, suppliers, pilots and deficiencies - many of whom have started to finish the leases with the carrier. Infusion of money can come as a welcome respite for troubled carriers.

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