More Turbulent Skies Ahead? After CFO, Jet Airways CEO Vinay Dube Resigns Citing ‘Personal Reasons’A Jet Airways plane (Ramesh Pathania/Mint via Getty Images)

The ailing airlines Jet Airways is in the midst of high-level resignations, following the resignation of its CFO Yesterday (13 May 2019) its CEO Vinay Dube leaving the company today with immediate effect, reports Mint. Dube cited personal reasons for his departure from the company.

In a letter to the stock exchanges, the airlines wrote: “We wish to inform you that Mr Vinay Dube, Chief Executive Officer of the Company, vide his letter dated 14 May 2019, has resigned from the services of the company with immediate effect due to personal reasons.”

Dube joined the company in August 2017 after working for Delta Airlines Inc, American Airlines and Sabre, Inc in various positions; before Jet he was working as senior vice president for Delta Airline Asia Pacific.

The cash strapped airline which stopped its operations on 17 April 2019 is waiting for suitable buyers to take a stake in its company. The company since then has been marred in controversies and string of resignations.

Nasim Zaidi who was a non-executive and non-independent director on the airline’s board of directors resigned in April citing ‘personal reasons’ and ‘time constraints’. The resignation was followed by its founder Naresh Goyal and his wife quitting the board.

Jet Airways’ financial troubles can be traced back to its $500 million acquisition of Air Sahara in 2006 which was dubbed as an inflated deal. Air Sahara was re-branded as Jet Lite but its financial troubles meant that Jet wrote off its entire investment in the airline in 2015.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement