Sad day for Indian aviation, says SpiceJet on exit of Naresh Goyal from Jet Airways

Low-cost airline SpiceJet said on Monday that it was a sad day for Indian aviation as Naresh Goyal and his wife Anita Goyal stepped down from the board of financially-strapped Jet Airways.

"Today is indeed a sad day for Indian aviation. By launching a truly world class airline, Naresh and Anita Goyal made India proud," said SpiceJet's Chairman and Managing Director Ajay Singh.

"This is also a wake-up call for Indian policy makers," he said. "We urgently need to address structural challenges that make India's airlines uncompetitive to airlines around the world," Singh added.

According to reports, SpiceJet is planning to lease Jet Airways' grounded planes from their lessors. The move is aimed at restoring the aviation industry's seat capacity and keeping air fares in check.

Singh is credited with turnaround of budget carrier SpiceJet, which was once in dire financial straits. The airline has clocked the highest load factor for several quarters in a row.