The troubled Indian airline Jet Airways announced on May 15, 2019, that its CEO Vinay Dube had resigned, a day after CFO Amit Agarwal also left the company.
Both Dube and Agarwal resigned with immediate effect for “personal reasons”, as cited by the airline. Several other board members such as the Company Secretary and Compliance Officer and the Chief People Officer have also resigned in the past month, according to India Today.
This comes as a new setback for the company whose flights are suspended since April 17, 2019, due to its inability to pay for “fuel or other critical services” necessary for operations. It had previously lost its right to operate international flights due to a lack of aircraft. According to Indian law, an airline cannot fly on international routes if it has less than twenty operating aircraft. Most of what used to be a 120-plane-strong fleet has now been given back to lessors.
The airline is currently facing a debt of more than $1.6 billion, with wages unpaid for months for some of its employees.