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  Business   Companies  23 Nov 2018  Jet Airways' independent director Ranjan Mathai resigns

Jet Airways' independent director Ranjan Mathai resigns

REUTERS
Published : Nov 23, 2018, 10:34 am IST
Updated : Nov 23, 2018, 12:00 pm IST

Independent director Ranjan Mathai resigned late, 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.
 The departure comes as the airline struggles to keep itself afloat, with rising debt levels and higher oil prices weighing on profits.

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.

Tags: jet airways, independent director, ranjan mathai, resignation