Five top managers quit Jet Airways

Trouble is brewing at India's largest private air carrier Jet Airways, with five of its top managers having quit citing "poor management practices", a TV channel said Wednesday. Jet Airways' vice president (South East Asia) V. Raju, head of training Michal Tan, vice president (communications) Nandini Verma, senior general manager Vijay Sethi and head of training Ravindran were among those who put in their papers, the CNBC-TV18 channel said quoting unnamed sources. "They have resigned citing poor management practices, lack of authority to take discussions and centralisation of power in London, as the reasons of their resignations," it said. The channel quoted sources to say that a number of other key employees were likely to follow.

The resignations come as a severe blow to the airline and its operations are likely to suffer in the highly competitive domestic aviation sector. The senior managers have quit at a time when Jet Airways is preparing to face the legal battle over the "failed" merger with rival Air Sahara. Jet Airways had signed an agreement in January 2006 with Air Sahara to acquire 100 percent stake in the latter. Jet Airways had paid Rs.1.8 billion for the revival of Air Sahara and Rs.5 billion for the Air Sahara shares, besides depositing Rs.15 billion in the escrow account opened for the purpose. However, the deal fell through in June following Jet Airways' failure to get regulatory clearance from the government. Air Sahara then moved court in Lucknow seeking to bar Jet Airways from operating the escrow account.

Courtesy: IANS

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