New Delhi : Deputy CEO and CFO Amit Agarwal of grounded Jet Airways resigned effective from May 13, the airline reported on Tuesday.
Jet Airways said in a regulatory filing said, “We wish to inform that Amit Agarwal, the deputy chief executive officer and CFO of the company, has resigned from service due to personal reasons, with effect from May 13.”
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Jet Airways Deputy CEO and CFO resigns
The airline seized operations temporarily around mid-April due to an acute liquidity crisis. Most of the airline’s board members have also quit in the last month. On April 17, Jet Airways was informed by the State Bank of India (SBI), on behalf of the consortium of Indian Lenders, that they are unable to consider its request for critical interim funding.
Since no emergency funding from the lenders or any other source is forthcoming, the airline will not be able to pay for fuel or other critical services to keep the operations going. Consequently with immediate effect, Jet Airways is compelled to cancel all its international and domestic flights. The last flight will operate today.
Several top executives and board members have quit the airline. Former Chief Election Commissioner Nasim Zaidi resigned from his position as Non-Executive and Non-Independent Director on the airline’s board citing personal reasons and time constraints. Independent Director Rajshree Pathy and top executive Gaurang Shetty have also quit the board.