For Naresh Goyal, stepping down from the chairmanship of the company he created was an emotional moment. But he has no regrets and considers the circumstances under which he has had to step down as an opportunity to “turn the page, ready to fly out from the turbulence of recent months and soar forth into a bright new future.”

In a message to Jet Airways employees, Goyal said: “There is light at the end of the tunnel and that is why I feel the time is now right for us to hand over the reins of our beloved airline to a new generation of leaders that I am certain will take Jet Airways to even greater heights.”

Goyal, one of the richest Indians at one time and considered a pioneer of the domestic aviation industry, became the Chairman of Jet on April 1, 1992. “For the past 25 years, Jet Airways has been a way of life for (wife) Anita and me. Very few people are fortunate enough to live their dreams and we have been truly blessed to be one among those few,” he said.

Blood, toil, tears

“I have watched with pride as our airline has grown from a fleet of just four aircraft flying to 12 destinations in our first year, to a peak fleet of 124 aircraft connecting our guests to over 550 destinations worldwide…It has truly been a labour of love that Anita and I, together with all of you, have built with our blood, toil and tears. Looking back, I would not want to change a thing. Not the triumphs, nor the trials and tribulations, challenges nor sweat equity,” he said.

“I would be lying if I said this was not an emotional moment for us..we have not come to this decision lightly but this is not the end of the journey, rather it is the start of a brand new chapter…both Anita and I remain committed to seeing Jet embark on a dynamic new chapter,” Goyal said.