Shares of Jet Airways declined over four per cent after the company’s former Chief Executive Officer (CEO) Nikos Kardassis parted ways with it once again.
The airline, after a negative opening on the Bombay Stock Exchange (BSE), further slipped 4.55 per cent to Rs 248.10 per share. At 1.24 pm, the scrip was trading at Rs 249.7, lower 3.94 per cent from the previous close.
On the National Stock Exchange (NSE), the stocks slumped 4.57 per cent to the low of Rs 248.
The Greek-American aviation veteran, in his third comeback to Naresh Goyal-controlled Jet Airways in May, was roped in to revive the fortunes of the full-service carrier following its dismal financial performance since January this year.
“Kardassis, whom Goyal roped in to help him in the airline’s turnaround plan, had gone on leave to his native place in November but after that, he did not return,” a source privy to the development said.
According ot sources, the former CEO parted ways with the airline after Goyal initiated discussions with his investment partner Etihad Airways for further stake sale to garner funds.
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