Updated: February 28, 2019 9:07:12 pm
Jet Airways’ founder Naresh Goyal has agreed to step down as chairman of the airline’s board, a source was quoted as saying by Reuters on Thursday even as the cash-strapped Indian carrier inches closer to securing a rescue deal.
The source with direct knowledge of the matter further said that Eithad, which owns a 24 per cent stake in Jet Airways, is reticent to provide interim funding of about 7 billion rupees ($99 million) to Jet Airways. Jet did not immediately respond to a request for comment.
Saddled with a billion dollars in debt, Jet has defaulted on loans and has not paid pilots, leasing firms and suppliers for months. Lessors have grounded more than a dozen of its planes pending payment of dues.
📣 Join our Telegram channel (The Indian Express) for the latest news and updates
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.