Economy

Deputy CEO of Jet Airways Steps Down

Jet-airways

Jet Airways has announced the resignation of its deputy chief executive Amit Agarwal. Agarwal said Jet in its official statement has stepped down due to personal reasons. Shares of the now grounded airline more than 12 per cent in today’s session. Agarwal who also served as the Chief Financial Officer resigns at a time when the airline is heavily debt ridden and owes money to suppliers, pilots and oil companies. The company has not announced Agarwal’s replacement as yet.  Jet had temporarily suspended its flights on April 17 and its whole-time director Gaurang Shetty had resigned earlier this month. Jet has a total debt of more than $1.2 billion.

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