Jet has been a way of life for me, this is start of brand new chapter: Goyal in heartfelt letter to staff

Naresh Goyal. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Mar 26, 2019, 10.28 AM (IST)

Jet Airways founder Naresh Goyal wrote a letter to his staff after stepping down from the board on Monday. Goyal and his wife Anita made the move yesterday. He also resigned from the chairmanship of the 25-year-old airline.

"I'd like to humbly and with immense love and gratitude, inform you that both Anita and myself are stepping down from the board of Jet Airways with immediate effect," the letter read. 

The letter, which was addressed to over 20,000 employees, had Goyal hoping that the cash-strapped airlines "stands poised to turn the page, ready to fly out of the turbulence and soar into a bright new future".

Goyal also said the approval of the debt-recast plan will put the carrier on a "sounder and sustainable" financial footing, news agency PTI reported. 

Goyal, in the letter, went on to note that the decision has been taken after much contemplation, adding that this is "the start of a brand new chapter".

He said he has seen the airline growing from a fleet of just four aircraft flying to 12 routes in the first year, to a peak fleet of 124 flying to over 550 destinations.

He thanked all Jet employees for their tireless, unrelenting efforts.

"It has truly been a labour of love that Anita and I, together with all of you have built collectively with our blood, toil and tears. Looking back I wouldn't want to change a thing. Not the triumphs, nor the trials and tribulations, challenges nor sweat equity," Goyal said.

"For the past 25 years, Jet has been a way of life for Anita and me. Very few people are fortunate enough to live their dreams and we have been truly blessed to be one among those few," he said.

"I'd also like to take this moment, to acknowledge the contribution of my wife, confidant and partner Anita without whom this journey would just not have been possible," Goyal concluded.

Meanwhile, Jet Airways Ltd's shares climbed about 8.5 per cent on Tuesday to a near two-month high after founder and chairman Naresh Goyal stepped down and lenders took control of the airline, in an attempt to rescue it from bankruptcy, news agency Reuters reported. 

After weeks of speculations over the future of Jet, which has grounded over 80 planes due to financial woes, its board Monday approved a resolution plan formulated by a consortium of lenders led by SBI, who has now become the new owners of the airline with 51 per cent equity holding.
 

 

 

Story highlights

The letter, which was addressed to over 20,000 employees, had Goyal hoping that the cash-strapped airlines 'stands poised to turn the page, ready to fly out of the turbulence and soar into a bright new future'.