Jet Airways founder Naresh Goyal, who along with his wife Anita, stepped down from the board Monday, said the decision is not the end of the journey but the start of a brand new chapter.
Goyal has also resigned from the chairmanship of the 25-year-old airline.
In an emotionally-charged letter to the 22,000-strong employees, Goyal also said the approval of the debt-recast plan will put the carrier on a “sounder and sustainable” financial footing.
After weeks of speculations over the future of Jet, which has grounded over 80 planes due to financial woes, its board Monday approved a resolution plan formulated by a consortium of lenders led by SBI, who has now become the new owners of the airline with 51 percent equity holding.
