Profit

Jet Airways Shares Plunge After Top Executives Quit

CEO Vinay Dube, head of finance Amit Agarwal and head of human resources Rahul Taneja quit within a span of 24 hours.

 Share
EMAIL
PRINT
COMMENTS
Jet Airways Shares Plunge After Top Executives Quit

Jet Airways was forced to ground all flights after running out of money and failing to secure funds


Bengaluru: 

Jet Airways shares fell as much as 6.05 per cent on Wednesday, a day after its chief executive and two other senior executives stepped down, raising serious doubts over the revival of the debt-laden airline.

CEO Vinay Dube, head of finance Amit Agarwal and head of human resources Rahul Taneja quit within a span of 24 hours after Jet failed to receive a concrete deal offer.

Jet, once among the largest carriers in the country, was forced to ground all flights after running out of money and failing to secure funds.

The carrier, also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals InterGlobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir.



Election Results for Lok Sabha Election 2019 will be out on May 23. Get the latest election news and live updates on ndtv.com/elections. Catch all the action on NDTV Live. Like us on Facebook or follow us on Twitter and Instagram for news updates from each of the 543 parliamentary seats for the election 2019

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top