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

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