Vikram Mehta, independent director at Jet Airways, quits
Mehta, a former bureaucrat, is also the executive chairman of Brookings India.
Mumbai: Jet Airways (India) Ltd’s independent director Vikram Mehta has resigned, the airline said on Friday. “This is to inform you that Mr. Vikram Mehta has submitted his resignation as an independent director of the company with effect from 9 November 2018, owning to time constraints on account of his other obligations,” Jet Airways said in a BSE announcement. Mehta, a former bureaucrat, is also the executive chairman of Brookings India.
The Naresh Goyal-controlled carrier, which had a 14.2% of share of the domestic market in September, is in a race to raise funds as high jet fuel prices and a weak rupee have harmed its financial health. The airline posted a standalone loss of ₹1,323 crore in the June quarter. The company is yet to report its September quarter results.
Shares of the airline closed 0.46% lower at ₹257.40 on BSE, while the benchmark Sensex fell 0.22% to 35,158.55 points. The stock has lost nearly 62% in the past year.
Editor's Picks »
- Future Retail’s Q2 result shows improvement in same-store sales
- Private insurance firms grow at the expense of LIC stuck with a sick bank
- Page Industries’s lofty valuations get a reality check in Q2
- Q2 results: Grasim’s Vodafone Idea stake is proving costly
- How Vodafone Idea’s $3.5 bn fundraising will impact telecom in India