Naresh Goyal's firm had Rs 260 crore cash when financial crunch hit Jet Airways
Naresh Goyal-owned Jetair Pvt Ltd (JPL) had a cash reserve of Rs 260 crore as on December 2018. JPL's stake was divested in UPS Jetair Express in October 2018 and around Rs 232 crore in cash was raised.
Last Updated: April 22, 2019 | 13:47 IST
Naresh Goyal-owned company Jetair Pvt Ltd (JPL) did not employ any of its credit facilities from banks to stay debt-free at a time when Jet Airways was manifesting signs of financial distress.