Jet Airways' independent director Ranjan Mathai resigns

Debt-laden carrier Jet Airways (India) Ltd’s independent director Ranjan Mathai resigned late on Thursday, citing rising pressure from other commitments.

The departure comes as the airline struggles to keep itself afloat, with rising debt levels and higher oil prices weighing on profits. Indian conglomerate Tata Sons Ltd said last week it is in preliminary talks with Jet, but has not made a proposal to buy a stake.

“I am no longer able to devote the time required to meet my obligations, as an independent director on the Board of Jet Airways and have accordingly decided to resign from the Board,” Mathai said in a statement issued by the airline.