A 28-year journey came to an end on Monday as Naresh Goyal, founder chairman of Jet Airways, finally stepped down following pressure from lenders. By doing so, Goyal may have ensured the survival of the airline as his departure was one of the conditions stipulated by lenders, led by State Bank of India, who will now infuse Rs 1,500 crore of emergency funds.
A 28-year journey came to an end on Monday as Naresh Goyal, founder chairman of Jet Airways, finally stepped down following pressure from lenders. By doing so, Goyal may have ensured the survival of the airline as his departure was one of the conditions stipulated by lenders, led by State Bank of India, who will now infuse Rs 1,500 crore of emergency funds.