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Jet Airways CFO, deputy CEO Amit Agarwal resigns for ‘personal reasons’

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Jet Airways CFO and deputy CEO Amit Agarwal on Monday resigned from the company for personal reasons, the airline said in a statement to the stock exchanges.

We wish to inform you that Amit Agarwal, deputy CEO and Chief Financial Officer of the company has resigned from the services of the company due to personal reasons, with effect from May 13, 2019, Jet Airways said in a BSE filing.

Amit Agarwal had been named as the deputy chief executive officer of the airline in 2017. He joined Jet as its chief financial officer in 2015 and was also its acting CEO from March 1, 2016 until August 9, 2017.

The air carrier has a debt of over Rs 10,000 crore. SBI and Punjab National bank with nearly Rs 2,000 crore each are the two main lenders involved in the process. In the January-March quarter, SBI classified Rs 1,220 crore worth loans to Jet Airways as non-performing asset.

Considered close to founder Naresh Goyal, Agarwal was responsible for all financial and fiscal management aspects of the company’s business.

Prior to Jet Airways, Agarwal has held the position of chief financial officer at Suzlon Energy apart from various leadership roles at Arcelor Mittal and Essar Steel.

Cash-strapped Jet Airways, which stopped its operations on 17 April due to an acute cash crunch, has seen a slew of top executives and board members leave the airline in the past few months.


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