Jet Airways CFO and deputy CEO Amit Agarwal quits company

15 Mai, 2019, 08:11 | Auteur: Auguste Feret
  • Vinay Dube CEO Jet Airways

In a regulatory filing, Jet Airways on Tuesday said that Amit Agarwal had resigned from the services of the company with effect from May 13, 2019 due to personal reasons.

Shares of Jet Airways Ltd. fell as much as 11.4 percent on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier.

Jet's shares closed 7.33% lower at 128.9 rupees on Tuesday, while the broader Mumbai market closed 0.66% higher.

In terms of volume, 22.14 lakh shares were traded on the BSE during the day, while over one crore shares were traded on the NSE.

Shares of Jet Airways had plummeted over 8 per cent Monday.

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Grounded carrier Jet Airways' deputy chief executive and chief financial officer (CFO) Amit Agarwal has resigned, the airline said on Tuesday.

The airline seized operations temporarily around mid-April due to acute liquidity crisis.

Several top executives and board members have quit the airline. Vinay Dube and Taneja were at the forefront after Jet suspended operations on April 17. The Serious Fraud Investigation Office (SFIO) of the corporate affairs ministry is looking into alleged irregular transactions by Jet's founder Naresh Goyal. But suitors had some qualms and a deadline for any interested parties to submit binding bids for the carrier ended on Friday with no such offers.

Abu Dhabi-based Etihad Airways submitted its sealed bid to acquire a minority stake in Jet Airways with a lot of riders that involved finding more investors, leaving little hope for the airline's survival.

However, he added that Etihad "cannot be expected to be the sole investor" and "additional suitable investors would need to provide the majority of Jet Airways' required recapitalisation".

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