Jet Airways sees top management exodus as rescue hopes dim for airline

Chief Executive Vinay Dube and Chief Financial Officer Amit Agarwal of Jet Airways resign.

The chief executive and two other senior figures at Jet Airways have quit, the company said on Tuesday, further eroding any hopes of a rescue of the debt-laden carrier that grounded operations last month.

Jet, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying.

Jet, also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo,