Jet Airways CEO Vinay Dube Steps Down Hours After CFO Resigns
Shares of Jet Airways ended 7.42% lower at Rs 129.10 apiece on the Bombay Stock Exchange while the benchmark Sensex gained 0.61% to end the day at 37,318.53 points on Tuesday. (PTI)

Jet Airways CEO Vinay Dube Steps Down Hours After CFO Resigns

Vinay Dube, the chief executive officer of Jet Airways (India) Ltd., has resigned, hours after his deputy and Chief Financial Officer Amit Agarwal quit, the crisis-hit airline said in a filing today.

Dube’s exit caps a spate of resignations at the debt-ridden airline ever since it was grounded in April due to a cash crunch.

The exits came on a day BloombergQuint reported that lenders led by State Bank of India are commencing a fresh search for a majority investor in the Naresh Goyal-founded airline. According to two people in the know, lenders took the call to initiate another search process at a meeting on Monday.

The move came after Etihad Airways PJSC offered to retain its 24 percent equity stake in Jet Airways but stopped short of offering any comprehensive resolution plan.

Shares of the full-service carrier closed 7.42 percent lower at Rs 129.10 apiece, compared with benchmark S&P BSE Sensex’s 0.61 percent gain.

Also read: Jet Airways CFO Amit Agarwal Resigns Citing Personal Reasons

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