• About
  • Contact
Friday, April 23, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Industries

Doomsday for JET Airways as CEO, CFO and Chief People Officer quit

Sourav by Sourav
September 11, 2019
in Industries
2 min read
0
jet airways
Share on FacebookShare on Twitter

A difficult time for Jet Airways continuous. The Airlines informed that CEO Vinay Dube has resigned with immediate effect due to his personal reasons.

“We wish to inform you that Mr Vinay Dube, Chief Executive Officer of the Company, vide his letter dated 14 May 2019, has resigned from the services of the company with immediate effect due to personal reasons,” Jet Airways said in a communication to stock exchanges.

Vinay Dube has joined Jet Airways in August 2017, previously Dube had varied roles at Sabre, Delta Airlines Inc and American Airlines. Before Jet Airways, Vinay Dube was the senior vice president for the Asia Pacific at Delta Airlines.

On Tuesdays, the company say three top-level exits- CEO Vinay Dube, CFO Amit Agarwal and Cheif People Officer Rahul Tanjea.

Customers and several interested parties who were interested that how many people would submit a bid on 10 May, 2019 as Jet Airways had owed $1.2 billion dollars  to the banks.

TPG, Indigo partners, Etihad Airways and NIIF were interested parties who qualified for the bids.

Jet Airways
Image Source: The National

Out of the four, Etihads bid to invest came as a relief to everyone. But Etihad Airways’ statement released on Friday evening may have some clues. Etihad said, “Etihad Airways today confirmed its interest to re-invest in a minority stake in India’s Jet Airways, subject to conditions. Etihad re-emphasizes that it cannot be expected to be the sole investor, and that, amongst other requirements, additional suitable investors would need to provide the majority of Jet Airways‘ required recapitalization.”

From the sources, Etihad Airways agreed to invest in Jet Airways and said it would not invest more than Rs 1,700 crore, a fraction of what Jet Airways required to revive. Due to this lenders now have to look for fresh investors for the airlines.

Jet Airways Stopped its operations on April 17, lack of cash to stay afloat and failing to raise more funds. The acute crunch has seen a slew of its top executives and also board members left the airlines in recent months.  

Moreover, In April former chief election commissioner, Nasim Zaidi also quit his position as a non-executive and non-independent director. The board stated ‘Personal reasons’ and ‘time constraints’.

From Reports independent director Rajshreee pathy also quit after founder Naresh Goyal and his wife Anita Goyal quit the Airlines board. And also Gaurang Shetty also left the company from airline’s board of directors.

Previous Post

Amazon Offers $10,000 to Its Employees To Start Their Own Delivery Businesses.

Next Post

Happy Birthday McDonald’s!

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Industries

Apple Tops the List of Top 50 Most Innovative Companies: BCG Study

April 19, 2021
Pine Labs Acquires Fave in Deal Valued over $45 Million
Case Study

Pine Labs – Transforming the Digital Transaction Environment

April 17, 2021
Gupshup Raises $100 Million, Joins Unicorn Club
Case Study

Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients

April 17, 2021
60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect
Case Study

60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect

April 16, 2021
Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License
Industries

Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License

April 16, 2021
Flipkart is All Set to Acquire Cleartrip
Industries

Flipkart is All Set to Acquire Cleartrip

April 14, 2021
Next Post
mc donalds

Happy Birthday McDonald’s!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Fortnite Apple Google Store- Next Big Brand

Apple App Store & Google Play Store Removes Fortnite By Epic Games

8 months ago
Aditya Puri

Aditya Puri Sells 95% Stake In HDFC Bank Months Before His Retirement

9 months ago
Most followed man on Instagram - Next Big Brand

Cristiano Ronaldo – Man With Most Followers on Instagram

1 year ago
kardashian-jenner-clan-next-big-brand

Kardashian and Jenner clan dominate Instagram Rich Celebrities List

2 years ago

FOLLOW US

  • 34k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • CoinSwitch Kuber Raises $25 Million at a Valuation of $500 Million
  • WazirX: Representing India at Global Cryptocurrency Market
  • Instamojo- Providing the Online Payment Gateways to MSMEs

Instagram

Follow Me!

Latest News

CoinSwitch Kuber Raises $25 Million at a Valuation of $500 Million

April 22, 2021
WazirX: Representing India at Global Cryptocurrency Market

WazirX: Representing India at Global Cryptocurrency Market

April 22, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.