Thursday, August 09, 2018

‘Guilty, embarrassed’ over Jet Air shareholders losing money: Goyal

Mumbai: Addressing investor concerns over the falling stock price of Jet Airways, and the airline’s poor financial health, Founder-Chairman Naresh Goyal said on Thursday he felt “guilty and embarrassed” about it.
Speaking at the company’s AGM here, Goyal said the airline is still in a strong position despite increasing competition in India and abroad. He pointed to fuel prices as the key reason for the company’s losses.
“A lot of you have lost your money. Now we need to make sure how we get back because we are not inferior to competition,” Goyal told shareholders. “I feel guilty, I feel embarrassed that you guys have stood with us in the last several years, believing in us.”
Goyal appeared concerned over the company’s falling public image and said measures will be taken to improve the public sentiment towards Jet over the next couple of months.
09/08/18 Varun Aggarwal/Business Line