Jet Airways soars high, Goyal exits

Beleaguered airline Jet Airways saw a spike of interest in Monday's last trading session on the back of reports that the infamous promoters of the company have agreed to step down from the company's board.

On Monday, the company's Board of Director had a meeting to discuss its management structure and operational funding requirements.   

The founder promoter of Jet Airways Naresh Goyal and his wife Anita Goyal, who are part of the promoter group which holds 51 per cent stake in the company, have step-down from the company's board. The exit of Goyal from the helm of affairs at Jet Airways was one of the pre-condition of SBI's debt resolution plan and even the condition of equity partner Eithad's capital infusion proposal. The company's CEO, Vinay Dube will be heading the company through the crisis, as of now. 

According to the Directorate General of Civil Aviation (DGCA) data, with the grounding of several aircraft by lessors due to non-payment of dues by Jet Airways, the airlines fleet had reduced to only 41 aircraft out of the 120 aircraft that were once part of its operations. 

At 15:01 hours on Monday, the stock of  Jet Airways was quoting Rs. 250.20 per share, up by Rs. 24.35 or 10.78 per cent on BSE, even as the benchmark index BSE Sensex was trailing by 371.63 points or 0.97 per cent at 37,792.98. The stock opened at Rs. 222.85 per share and hit intraday high of Rs. 252.40 and intraday low of Rs. 220.25 on BSE.