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Last updated on April 16, 2014 at 17:34 EDT

Latest Goyal Stories

2008-10-18 12:00:13

The chairman of India's Jet Airways says he's rescinding a move to cut 1,900 jobs because he couldn't stand to see his mostly young employees suffer. Naresh Goyal told reporters in New Delhi Friday that even though India's low-cost airline industry will lose a record $2 billion this year, he will attempt to save money other than by laying off the employees, many of whom are young women who flocked to the start-up airline, The Washington Post reported. "This was the most emotional day in my...

2008-10-17 12:00:17

The chairman of India's leading private airline Jet Airways, Naresh Goyal, has reversed plans to lay off 1,900 staff, but has not commented on whether the reinstated staff will have to take a pay cut. Mr Goyal has said that the sacking was not a result of its broad-based cost-saving alliance with another private airline, Kingfisher. He has also denied that the airline had reversed its decision due to political pressure. The airline's management had stated that it had to adopt job cuts as...

2008-07-14 15:00:00

By Kushan Mitra Naresh Goyal may be the poster boy of India's post-reforms civil aviation industry, but the last year has not been a great one for him. First, several senior and middle managers quit Jet Airways to join liquor baron Vijay Mallya's Kingfisher Airlines, which has, within three years, stolen the limelight from Jet on service parameters. Worse still, after Mallya's acquisition of Air Deccan, the Kingfisher Airlines Group, with a share of 28.4 per cent of the domestic market, is...