How is Naresh Goyal any different from Lalu Prasad Yadav? All of us castigated the Rashtriya Janata Dal (RJD) chief when he anointed his wife, Rabri Devi, before going off to jail in 1997 after being found guilty in the infamous ‘fodder scam’. Last week, Goyal announced that he had reportedly agreed to step down as chairman of Jet AirwaysNSE 0.06 % — only to make way for his son, Nivaan.
So, is blood thicker than the bottom line in business as well? As Jet Airways plans yet another take-off — after skidding off the runway cash-strapped and defaulting on interest payment to airport operators, oil marketing companies, lessors and part of its own crew — it’s difficult to let go of the overwhelming sense of foreboding. Only eight years back, banks ran into severe air pockets after their debt-to-equity bailout package for Kingfisher AirlinesNSE -11.11 % went south.
