November 23, 2018 / 3:06 AM / 23 days ago

Jet Airways' independent director resigns

FILE PHOTO: A Jet Airways plane is parked as another moves to the runway at the Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2018. REUTERS/Danish Siddiqui/File Photo

(Reuters) - Debt-laden carrier Jet Airways (India) Ltd’s independent director Ranjan Mathai resigned late on Thursday, citing rising pressure from other commitments.

The departure comes as the airline struggles to keep itself afloat, with rising debt levels and higher oil prices weighing on profits. Indian conglomerate Tata Sons Ltd said last week it is in preliminary talks with Jet, but has not made a proposal to buy a stake.

“I am no longer able to devote the time required to meet my obligations, as an independent director on the Board of Jet Airways and have accordingly decided to resign from the Board,” Mathai said in a statement issued by the airline.

Reporting by Tanvi Mehta in Bengaluru; Editing by Rashmi Aich

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below