Jet Airways Deputy CEO Amit Agarwal Steps Down, Cites "Personal Reasons": 10 Points

Amit Agarwal resigned due to personal reasons, says Jet Airways Jet Airways shares fall over 12% in intraday trade Grounded Jet Airways is struggling with a debt of over $1.2 billion

14 May 2019, 10:08 AM IST

Jet Airways did not mention a replacement for Amit Agarwal

Jet Airways did not mention a replacement for Mr Agarwal.
He had joined Jet Airways as chief financial officer in 2015.
Lenders of the now-grounded Jet Airways have taken a controlling stake in the airline, and are currently in the process of selling a stake to recover their dues.
SBI Capital Markets, a unit of SBI - which leads the group of Jet Airways' lenders, said last week that it received a solicited bid from Etihad Airways and three unsolicited bids for the airline. (Also read: Etihad, three others bid for Jet Airways)
The deadline for interested parties to submit their bids under the stake sale ended on Friday.
The Jet Airways stock declined as much as 12.44 per cent to Rs 122.10 apiece on the Bombay Stock Exchange (BSE), compared with its previous close of Rs 139.45.
At 10:16 am, Jet Airways shares traded 10.33 per cent lower at Rs 125.05 apiece on the bourse, underperforming the benchmark Sensex index market which was down 0.15 per cent.
Jet Airways earlier this month accepted the resignation of its whole-time director Gaurang Shetty. (Also read: Jet's 26th anniversary "saddest" day, Naresh Goyal writes to staff)
The airline temporarily suspended its flight operations on April 17. Till Monday, Jet Airways shares had declined 42.16 per cent since the grounding of the airline.
Hundreds of Jet Airways pilots, engineers and technicians have joined rival aviation companies.

(With agency inputs)