Jet Airways, Amit Agarwal, CFO, deputy CEO, resigns

Jet Airways’ Chief Financial Officer (CFO) and Chief Executive Officer (deputy CEO) Amit Agarwal resigned on Monday, the company said in a statement.

The statement said that his resignation is effective from May 13.

“We wish to inform that Amit Agarwal, the deputy chief executive officer and CFO of the company, has resigned from service due to personal reasons, with effect from May 13,” Jet Airways said in a regulatory filing.

This resignation from Amit Agarwal when the airline is facing a debt of more than $1.2 billion, and owes money to lessors, suppliers, pilots and oil companies.

Jet Airways seized its operations on April 17 due to acute cash crisis. After this, the airlines has seen a slew of top executives and board members leave the airline in the past few months.

Considered close to founder Naresh Goyal, Agarwal was responsible for the financial and fiscal management of the company’s business. He joined the airline in December 2015. He is a  chartered accountant with over 2 decades of experience.

Before joining Jet Airways, Agarwal worked with Suzlon Energy where he has held the position of chief financial officer.

In April, former chief election commissioner, Nasim Zaidi, quit his position as non-executive and non-independent director on the airline’s board citing ‘personal reasons’ and ‘time constraints’.

Independent director Rajshree Pathy also quit the board of the airline in April, weeks after founder Naresh Goyal and his wife Anita Goyal quit the airline’s board.

Last week, one of top executives, Gaurang Shetty, considered close to founder Naresh Goyal, also resigned from airline’s board of directors.


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