Daijiworld Media Network – New Delhi
New Delhi, Mar 22: Naresh Goyal, once hailed as an icon in India's aviation sector, founded Jet Airways in 1993, quickly earning a reputation for providing high-quality service at affordable prices. Jet Airways soon became one of India's largest airlines under Goyal's leadership.
However, cracks began to show in Jet Airways after Goyal made some financial decisions that proved to be unsuccessful. Despite initial optimism, on March 25, 2019, Goyal's resignation from the board of directors signalled Jet Airways' imminent closure.
Fortunately, entrepreneur Murari Lal Jalan, in collaboration with Kalrock, acquired Jet Airways with hopes of restoring its former glory. Despite challenges, there are reports suggesting Jet Airways may resume operations in 2024 under new leadership.
Goyal's inspiring journey, from humble beginnings in Sangrur, Punjab, to the pinnacle of success in India's aviation industry, is a tale often recounted in business circles. Born in 1949, Goyal faced adversity early in life after his father's passing, but his mother ensured he completed his education.
Starting his career at his uncle's travel agency, Goyal quickly rose through the ranks, gaining invaluable experience in the aviation sector. In 1969, he was appointed PR manager for Iraqi Airlines, further cementing his position in the industry.
By 1973, Goyal ventured into entrepreneurship, establishing Jet Air Agency with a loan from his mother. The early '90s saw the launch of Jet Airways, marking a significant milestone in Indian aviation.
Despite Jet Airways' success, Goyal faced challenges in the following years, leading to the airline's eventual suspension of operations in 2019. Goyal's legal troubles further compounded his woes, culminating in his arrest in 2023 on charges of fraud.
Currently incarcerated and battling health issues, Goyal's hope for a peaceful retirement diminishes with each passing day. His journey, from modest beginnings to financial success and subsequent downfall, serves as a cautionary tale and a testament to the complexities of business.