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Jet Airways shares down over 4% on reports of Nikos Kardassis' exit

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

Press Trust of India  |  New Delhi 

Jet's unit costs increased 8.7 per cent while its unit revenue declined 3.9 per cent

Shares of declined over 4 per cent after the company's former Nikos Kardassis, who made a comeback to the carrier in an advisory role, has once again parted ways with it.

The airline, after a negative opening on the BSE, further slipped 4.55 per cent to Rs 248.10 per share. At 1324 hrs, the scrip was trading at Rs 249.7, lower 3.94 per cent from the previous close.

On the Natio nal Stock Exchange, the stocks slumped 4.57 per cent to the low of Rs 248.

The Greek-American veteran in his third comeback to 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 told on Sunday.

The former parted ways with the after Goyal initiated discussions with his investment partner for further stake sale to garner funds, said another source.

First Published: Mon, December 17 2018. 14:00 IST
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