Naresh Goyal back in the pilot's seat: 2013 to 2017

Things at Jet come a full circle as promoter slowly wrests control from Etihad

During one of the worst times for Indian aviation — in 2013 — to rescue his airline from the brink of closure, aviation legend Naresh Goyal, a man who started from nothing whatsoever, sold a 24 per cent stake in his airline, Jet Airways, to Abu Dhabi’s Etihad Airways for $349 million. 

Soon after the sale, things began to change at the airline. Gary Kenneth Toomey took charge from Nikos Kardassis in mid-2013 as the new chief executive officer (CEO). About six to seven senior- and mid-level executives were brought in by Etihad and put in charge of key functions,