Canindia News

Jet saga: Now, Etihad’s nominee on Jet board resigns

New Delhi, May 17 (IANS) Grounded full service carrier Jet Airways’ continues to lose its senior management level personnel, further damaging hopes of the airline’s revival.

The latest to quit the company is Robin Kamark, the UAE-based Etihad Airways’ nominee on the Board of the grounded airline.

“We wish to inform you that Robin Kamark, nominee director of Etihad Airways PJSC, resigned as director of the company with effect from May 16, 2019,” the airline said in a regulatory filing on Friday.

The exodus of senior management personnel from the grounded airline began earlier this week.

Jet Airways Chief Executive Officer (CEO) Vinay Dube, the Chief Financial Officer (CFO) and Deputy Chief Executive Amit Agarwal, as well as Company Secretary and Compliance Officer Kuldeep Sharma all resigned in quick succession.

Having run out of cash, Jet Airways suspended its operations on April 17. Its aircraft are also being gradually de-registered, adding to the growing uncertainty about the airline’s revival.

Lenders of Jet Airways led by State Bank of India SBI are currently in the process of selling the airline to recover their dues of over Rs 8,400 crore. Private equity firm TPG Capital, Indigo Partners, National Investment and Infrastructure Fund (NIIF) and Etihad Airways had been shortlisted to submit their bids.

On May 10 — the last date for submitting the binding bids — only Etihad submitted its offer, and that too in the eleventh hour. The other two bids received for the airline were unsolicited.

Faced with salary delays and uncertainty over the airline’s revival, thousands of Jet Airways employees, especially pilots and engineers, have left the company to join rival carriers.




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