MUMBAI | NEW DELHI: Monday marked the end of an era for Indian aviation as Naresh Goyal, the founder-chairman of the country’s oldest private airline Jet AirwaysNSE 6.18 %, stepped down from its board, handing over the reins to government-run banks.
Goyal exited after months-long tug-of-war with the airline’s banks and investor Etihad Airways, which stemmed from his reluctance to give up control of his financially battered carrier. His wife Anita Goyal stepped down along with him. Also, Goyal will no longer be the chairman of Jet.
