ABOUT JET AIRWAYS
JET AIRWAYS (India) Limited is an Indian international airline based in Mumbai, India. Jet Airways temporarily ceased operations from 17 April 2019, it was India’s largest airline with 21.2% passenger market share in February 2016. Its main hub at Chhatrapati Shivaji International Airport operated more than 300 flights per day to 74 destinations worldwide. Secondary hubs at Chennai International Airport, Indira Gandhi International Airport, Kempegowda International Airport and Netaji Subhash Chandra Bose International Airport.
Naresh Goyal is behind Jet Airways. He started by borrowing money from his mother and became the owner of India’s largest airline company. Naresh Goyal’s total assets were more than Rs 8,000 crore.
NARESH GOYAL- EARLY LIFE AND JOURNEY
71-year-old Naresh Goyal was born on July 29, 1941. He was born in Sangur, Punjab. He went through a major financial crisis with his family when he was just 11 years old. His family persisted, but the government and the bank lost almost all of their property, including his home, in an action. Meanwhile, his maternal uncle helped him. He paid for his graduation. He wanted to advance the chatted accountancy but was doing B.Com instead. His education ,He passed his high school from Government Raj School, Sangur, Punjab.He got his degree of Bachelor’s in Commerce from Government Vikram college of Commerce.
NARESH GOYAL- FAMILY
Naresh was born into a Punjabi Hindu family where his mother was a housewife and his father was a gold merchant. He died when he was very young. He also had an elder brother, Surinder Kasamar Goyal. Who is also the co-founder of Jet Airways.
She married Anita Goyal and was with him during the Jet Airways debut. And they have a daughter and a son. His daughter Namrata Goyal is the director of the production house Filmstock Private Limited. And his son Naveen Goyal is on the board of directors of Jet Airways.
NARESH GOYAL- STORY OF JETAIRWAYS
After his graduation in 1967, he joined his uncle’s travel agency as a cashier. Due to his hard work and dedication, he was appointed as the Public Relations Manager of Iraqi Airways in 1969. He was also the Regional Manager of Royal Jordan Airlines from 1971 to 1974. During this time, he gained experience in the areas of tickets, reservations and sales. He also worked with Indian executives of Middle East Airlines.
He borrowed some money from his mother in 1974 to start his own travel agency from his brother and named it Jeter. His agency represented the sales and marketing of airlines such as Air France, Austrian Airlines and Kathy Pacific.
He was appointed as regional manager of Phillip Airline in 1975 and handled the airline’s commercial operations in India. In 1991, when the Indian government announced an open-sky policy, Naresh started an airline company. And in 1992 he switched his agency to Jet Airways.
Jet Airways started its operations in 1993. By 2004, Jet Airways started operating international flights. It was India’s largest air carrier after its acquisition by Jet Sahara in 2007.
NARESH GOYAL – CONTROVERSY
A PIL was filed against him in the 2000s, accusing him of having an affair with underworld don Dawood Ibrahim. It was said that Jet Airways was funded by Dawood but was given a clean chit by the government with security clearance.
He was also booked for money laundering by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA). In March this year, 19 privately linked firms were arrested for their involvement in suspicious transactions.
NARESH GOYAL- HIGHLITED IN NEWS
JET Airways flight landed on the ground in April 2017. This founding partner and even aviation experts say that his arrogance caused problems for his airline.
In 2018, the airline was almost passing after consecutive quarters. They were unable to clarify the salaries of the pilots.
In 2019, the airline delayed payment to banks, after which the company asked shareholders for an amount of $ 840 million. Then, the shareholders approved converting the debt into equity.
Finally, the lenders finalized a resolution plan for the airline. And they agreed for an interim funding of Rs 1,500 crore for a period of 2 months. Naresh Goyal and Anita Goyal stepped off the board. And now Jet Airways is looking for a new investor.
NARESH GOYAL- ACHIVMENTS
1)Ernst & Young Entrepreneur of the Year Award for Services at september 2010.
2)Travel Entrepreneur of the Year Award at 19th Annual TTG (Travel Trade Gazette) Travel Awards at 25 October 2007.
3)Accorded the prestigious TATA AIG – Lifetime Achievement Award at 8 september 2007.
4)NDTV Profit Business Award 2006 at 28 july 2006.
5)Two times get Aerospace Laurels for outstanding contribution in the field of Commercial Air Transport at April 2000 and February 2004.
6)Outstanding Asian-Indian award at November 2003.
7)Distinguished Alumni Award-2000 at october 2000.