Jet Airways’ deputy CEO and CFO Amit Agarwal quits

Jet Airways,Jet Airways CEO,Vinay Dube

Jet Airways,Jet Airways CEO,Vinay Dube

Indian carrier Jet Airways said on Tuesday its Chief Executive Officer Vinay Dube had resigned with immediate effect. He is the fifth top level official to quit the beleaguered company after its deputy CEO and Chief Financial Officer Amit Agarwal and company's Chief People Officer (CPO) Rahul Taneja put in their resignation papers.

Agarwal resigned due to personal reasons and his resignation is with effect from Monday, the airline said in a statement.

The debt-strapped company said Dube and Agarwal resigned due to personal reasons, without providing further details.

Dube took over as the airline's CEO in August 2017, filling in a spot that had been vacant since early 2016.

The share price of Jet Airways fell nearly 13 per cent on Tuesday. He holds bachelor's degree from Knox College, Illinois, and a master's degree from University of North Carolina System.

Before joining Jet, he was senior VP (Asia Pacific) at Delta.

The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE.

Faced with salary delays and uncertainty over revival of the airline, thousand of Jet Airways employees, especially pilots and engineers, have left the company to join rival carriers. Shares of the carrier, which have tumbled nearly 70 per cent over the past year, were down 5 per cent at Rs 144.3, as of 0445 GMT. Jet Airways stopped its operations on 17 April.

Tuesday's exits come days after the airline's top executive Gaurang Shetty, considered close to founder Naresh Goyal, resigned from the board of directors.

Abu Dhabi-based Etihad Airways submitted its sealed bid to acquire a minority stake in Jet Airways with a lot of riders that involved finding more investors, leaving little hope for the airline's survival. Most of the airline's board members have also quit in the last month.