Jet Airways’s top executives resigned, further eroding hopes that airline will fly again.
Jet Airways CEO Vinay Dube, CFO Amit Agarwal and chief people’s officer Rahul Taneja have resigned after it became clear that Etihad’s offer to invest in Jet Airways will not enough to revive the airline.
Jet, once the largest private carrier in India, grounded its fleet and ceased all flight operations from 17 April 2019.
Airline is saddled with around $1.2 billion in bank debt, and failed to pay its staff including pilots.
As the pressure mounted, its aircraft lessors began to deregister and reposes the planes.
For months, Management tried hard to get investors to save the airline, but only Etihad agreed to invest a percentage with conditions.
Since there are no takers other than Etihad, Jet will eventually shut down…