The Hindu Business Line

Gave in to every demand to keep Jet airborne, says Goyal


Naresh Goyal, the former Chairman of Jet Airways, has told the airline’s employees that he has complied with every demand made by the lenders in order to make available fresh funds to keep the company afloat.

“I have agreed to sacrifice my every control and interest in the airline,” Goyal said in a statement. Naresh Goyal, who was the chairman of Jet Airways for 25 years, stepped down last month.

The airline has been facing financial crisis for the past several months. As a part of the proposed resolution plan, SBI — the lead lender of Jet Airways — had assured an infusion of ₹1,500 crore.

However, the fund infusion still hasn’t happened. The salaries of pilots have not been paid for three months, while some pilots have been asked to go on unpaid sabbatical till September.

In his statement, Goyal said, “I have given all facilitati­on for implementa­tion of the “resolution plan” and signed on a dotted line as required to the release of the much needed funds committed by the lenders, in order to secure a sustainabl­e future for Jet Airways.” Naresh Goyal, former Chairman of Jet Airways

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