Jet Airways shares rise after report of chairman stepping down


Shares of Jet Airways  Ltd jumped as much as 6 per cent on Friday, a day after two sources told Reuters that founder Naresh Goyal had agreed to step down as chairman.

Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 per cent stake in the airline but would continue to be part of the company in some capacity even after stepping down as chairman, one of the sources said.

Jet, saddled with over $1 billion debt, had a rough 2018 as competition intensified in the Indian skies, the rupee depreciated and high oil  prices squeezed margins.   Read More

You may also read!

All you need to know about the Territorial Army’s 106 Infantry Battalion, where Dhoni is heading

Former Indian skipper Mahendra Singh Dhoni has been granted permission to train with Territorial Army’s 106 Infantry Battalion -

Read More...

India-Russia Defense Collaboration Surges

Russia and India have been collaborating on an increasing number of defense deals related to frigates, attack submarines, air

Read More...

India-Israel Naval meeting in Gujarat

The 12th India-Israel Navy Staff Meeting to progress the Service Matter Expertise (SME) Exchange between the navies of the

Read More...

Leave a reply:

Mobile Sliding Menu