Jet Airways founder Naresh Goyal steps down amid crisis

Jet Airways airplane at Amsterdam Airport Schiphol in Amsterdam, Netherlands.

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Jet Airways is India’s oldest private airline

The founder of cash-strapped Indian airline Jet Airways has stepped down as chairman of the company.

Naresh Goyal’s resignation will likely pave the way for potential investors to save India’s oldest private carrier.

They were held back by Mr Goyal’s reluctance to give up control of the company, reports say.

Jet’s debt exceeds $1bn (£750m) and the airline has grounded some flights as it is struggling to pay employees, suppliers and leasing companies.

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