Naresh Goyal, a former ticketing agent who went on to build one of India’s biggest airlines, has stepped down as chairman of cash-strapped Jet Airways India Ltd. after caving in to pressure from creditors.
Jet’s board approved the resignation of Goyal, 69, and his wife Anita, the second-biggest full-service airline in India said in a filing March 25. Banks, which will get 114 million new shares in the company, will provide the carrier with an immediate funding of as much as 15 billion rupees ($218 million) in debt.
