Crisis-hit aviation player Jet Airways witnessed another setback with retired diplomat Ranjan Mathai resigning from his post as an independent director on its board due to his other commitments.
According to the airline, Mathai was quitting because of increasing demands on his time from his other commitments, including some of academic nature.
Mathai was quoted as saying in Jet Airway’s statement, “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 had joined the board last year. A former foreign secretary, he is the second independent director to quit Jet Airways board in two weeks after Vikram Singh Mehta. Early this month, Vikram Singh Mehta had put in his papers due to “time constraints” and other obligations.
Jet Airways is grappling with financial woes and is in discussions with several investors to raise funds. While Tata Sons Ltd said last week it is in preliminary talks with Jet but has not made any offer to buy a stake. Meanwhile, the airline has been delaying salary disbursement to its senior management, pilots, and engineers since August. The resignation of two board members in the same month is hardly a vote of confidence for the airline.
Image Credits: The Financial Express