Naresh Goyal’s resignation is expected to act as a makeweight allowing for for fresh investment in the carrier.
Jet Airways has in recent days been forced to ground nearly 50 aircraft, about two-thirds of its fleet, as it has not been able to meet lease costs.
It has suspended its five-times weekly Manchester-Mumbai route, launched last November, until at least the end of April.
The airline’s share prices were up more than 12% following the announcement on Monday (March 25).
Bloomberg reports Goyal’s reluctance to stand aside had put investors off from pumping cash into the carrier.
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