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India's troubled Jet Airways said Monday that founder Naresh Goyal has stepped down as chairman and left the company board as part of a rescue plan.
Jet, which has debts of more than $1 billion, said in a statement that its creditors would inject up to $218 million of "immediate funding support" into the airline.
Carrier - India - Airline - Three-quarters - Fleet
The Mumbai-based carrier, which until recently was India's second biggest airline, has been forced to ground three-quarters of its 119-aircraft fleet.
This is because it was unable to pay aircraft lessors. Its pilots have also complained of delays in receiving their salaries.
Thousands - Customers - Weeks - Flights - Cases
Thousands of customers have been stranded in recent weeks after their flights were in some cases abruptly cancelled.
Jet employs more than...
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