Ranjan Mathai resigns as independent director of cash-strapped Jet Airways board; to pursue other commitments
According to the airline, Ranjan Mathai was quitting because of increasing demands on his time from his other commitments, including some of academic nature.
New Delhi: Crisis-hit Jet Airways said on Thursday that retired diplomat Ranjan Mathai has resigned as an independent director on its board due to his other commitments. Mathai, a former foreign secretary, is the second independent director to quit Jet Airways board in two weeks after Vikram Singh Mehta.
The departure comes as the airline struggles to keep itself afloat, with rising debt levels and higher oil prices weighing on profits. It is in discussions with several investors for raising funds. Tata Sons said last week it is in preliminary talks with Jet but has not made a proposal to buy a stake.
According to the airline, Mathai was quitting because of increasing demands on his time from his other commitments, including some of academic nature.
"I am no longer able to devote the time required to meet my obligations as an independent director on the board of Jet Airways and have accordingly decided to resign from the board," Mathai was quoted as saying in Jet Airway's statement. He had joined the board last year.
--With inputs from agencies
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