Jet gets a lifeline as Naresh Goyal quits as chairman

Lenders agreed to pump in funds as this was the only way to keep the airline operational and give them a chance to recover their dues of over Rs 8,000 crore. The government was also keen that the carrier continue to operate as closure would cause large-scale job losses, severely reduce airline capacity in the country and wipe out any chance of creditors recovering their money.

from Times of India https://ift.tt/2Tt79Zz