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Founder of Indian Jet Airways at Mumbai Airport



On Saturday, Indian immigration authorities detained Jet Airways' former head Naresh Goyal and his wife from traveling to London one month after the liquor was hired by the debt-laden company. The airport and his wife Anita recalled the Emirates' flight to Dubai as he took off for the launch On a runway, a spokesman for the AFP said in a statement in some media reports, however, they are said to leave the airport later.

Goyal is not under investigation, but a number of high-profile businessmen have fled India for allegedly involved in financial crime, leading to a massive public outcry.

Emirates said they "cooperate fully with the relevant authorities." The 69-year-old resigned in March after a debt from the chairmanship and board of the company The restructuring pact with the lenders was dissolved in the context of a loan in the amount of 1

.2 billion US dollars.

Anita also resigned from the board.

When India's leading airline ceased operations, a consortium of lenders refused to pay for emergency money because they failed The consortium led by State Bank of India, India's largest state-owned bank, took control of Jet in March and pledged However, the lenders refused cash to the beleaguered airline, which had stopped paying employees' salaries since January, and forced hundreds into the streets, as there were about 20,000 white-collar workers

Bad investment, competition from several budget airlines, high oil prices and a weak rupee have all led to Jet's current financial crisis, mismanagement has plagued the airline as well.

Analysts are tracking the start of Jet's financial problems with the purchase from Air Sahara for 500 million US dollars in cash in 2006.

Goyal, an entrepreneur-born entrepreneur, launched Jet in 1992 after the Indian government passed a series of reforms to make the economy more market-driven.

The Mumbai-based airline quickly made a name for launching new initiatives. Jet was the first Indian airline to offer a frequent flyer program. Flight entertainment.

But new well-run budget airlines, including IndiGo, GoAir and SpiceJet, established between 2005 and 2006, were increasingly affected.

Another low-cost airline, Kingfisher Airlines, was shut down in 2012 after failing to repay millions of dollars in loans to state-owned banks. His owner, Vijay Mallya, fled India in 2016 and is currently fighting a London court for his deportation for facing financial fraud.


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