Wife Anita Goyal and one nominee of Etihad Airways PJSC would also step down from the board.
It couldn't be immediately ascertained whether he has partnered with any entity or airline for the bid.
Kingfisher's departure from the Low Cost Carrier (LCC) segment shows that running an LCC is no cakewalk, requiring a whole new management philosophy.
The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways chief executive officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
Anita would be additional director in a non-executive and non-independent role.
Jet Air boss Naresh Goyal wants everyone to try his airline's superior service -- and he wants his breakfast on time.
Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
56-year-old Goyal was presented the award for his outstanding performance in making Jet Airways one of the world's best and fastest growing airlines.
Jet Airways founder Naresh Goyal and few others have been booked by the Enforcement Directorate in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday. They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act after taking cognisance of a recent Mumbai Police FIR filed against him.
Jet Airways chairman Naresh Goyal discusses the airline's entry into the United States.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
Earlier when Goyal had moved court seeking permission to go abroad, the judge had observed that if he wanted to go abroad, he should first deposit Rs 18,000 crore as guarantee that his company owes to lenders.
The airline is sitting on a debt pile of over Rs 8,200 crore and has defaulted thrice since January, including on some forex debt.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
'The airline business is very dynamic. If you are unable to keep up and lead, you end up last.' 'This is what has happened to Jet.'
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
The change in ownership is necessary to conform to the government's foreign direct investment norms in aviation.
Jet Airways Chairman Naresh Goyal will purchase over one per cent stake in the airline from another promoter entity, Tail Winds, for up to Rs 45 crore (Rs 450 million).
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Rejecting allegations of stashing away unaccounted money in Swiss accounts, Jet Airways on Friday said there is no account in the name of its Chairman Naresh Goyal in HSBC Bank, Geneva, though he is entitled to have bank accounts outside India as he is a Non-Resident Indian.
Jet Airways says its expansion plans are not linked with the $400 million qualified institutional placement issue
Jet Airways expects to return to profit in the next 18 months, following implementation of a new route network and fleet strategy and cost optimisation measures.
India's largest private carrier Jet Airways will report a full-year loss for 2007-08 fiscal and break even only in the financial year ending next March, said its chairman Naresh Goyal. Earlier in January, Jet Airways had reported a net loss of Rs 91.12 crore (Rs 911 million) for the quarter ended December 31, 2007 as against net profit of Rs 40.04 crore (Rs 400 million) for the year-ago period. Goyal expects Jet Airways to break even in the current fiscal, ending Mar 31, 09.
Jet Airways chairman Naresh Goyal on Tuesday met civil aviation secretary Madhavan Nambiar on Tuesday against the backdrop of pilots of the private carrier refusing to report to work to protest against the sacking of two of their senior colleagues.
Jet Airways' loss widened for FY15 on higher cost.
The aircraft was called back to the parking bay at the time of taxiing.
Currently, Etihad has 24 per cent shareholding in Jet Airways
Airline sources said Goyal, who had stepped down as chairman of the carrier last month, has withdrawn his bid for the airline.
Jet Airways Chairman Naresh Goyal on Wednesday said that he would have no option but to follow 'the law of the land' if an action had to be taken against the agitating pilots, while appealing to them to resolve the matter amicably and return to work. Meanwhile, Goyal met Civil Aviation Minister Praful Patel in the wake of the agitation by the airline pilots.
Low cost carriers have 55 per cent of the market, up from 45 per cent in Q1 last year, and 30 per cent two years back. Does it mean India really is an LCC market? The performance of the airlines also seem to suggest that. While budget carrier Spicejet announced a small profit for Q1, all the big boys in the industry seem to be in trouble.
Jet Airways chairman Naresh Goyal said the strategic alliance forged almost a year ago between his company and Kingfisher Airlines has still not achieved tangible progress, and added that airfares need to rise by 20-25 per cent.
Jet Airways group CEO Ravi Chaturvedi has resigned. Amid difficult times for the aviation industry, Jet Airways has cut three of its biggest loss-making international routes and plans to lease four wide-body Boeing 777 aircraft, besides phasing out three Boeing 737 planes.
He urged employees to bear with him in this difficult situation a little longer, till the airline emerges out of turbulence and fiscal challenges.
The Bombay high court has asked Mumbai Police Commissioner to file a report on the alleged underworld links of Jet Airways chairman Naresh Goyal.
Amidst the ongoing war of words between the Ambani brothers over the issue of pricing of gas, Mukesh Ambani, chairman, Reliance Industries Ltd, on Tuesday met TKA Nair, Principal Secretary to the Prime Minister, at the latter's office in the South Block.
Jet Airways chairman Naresh Goyal on Thursday vehemently denied any link with the underworld saying all agencies have cleared his airline in this connection and that is why the carrier has been allowed to fly to the US.
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