Naresh Goyal, Chairman, Jet Airways

Portrait

Jet Airways chairman Naresh Goyal's life is what corporate dreams are made of. From being an employee at his relative's airline agency to floating a successful airline himself, Goyal has croreuised a long way in the aviation industry.

Naresh Goyal, a non-resident Indian national, is the chairman of Mumbai-based Jet Airways. He is also the chairman of the Board of Directors. Mr. Goyal holds a Bachelors of Commerce degree and after completing his education in 1967, he joined the travel business and underwent extensive practical training with several foreign airlines.

Naresh Goyal had to walk for a few miles everyday to school as his parents could not afford a bicycle for him, and started his career as a cashier at his maternal uncle's company at a starting salary of US$ 8 a month.

Today, the network of the Jet Airways promoter is worth over US$ 1.5 billion, which makes him the thirty second richest Indian as per the 2006 Business Standard Billionaire Club. (#1 billionaire: Mukesh Ambani, US$ 16.56 billion, followed by IT czar Azim Premji worth US$ 12.89 billion).

Naresh Goyal has more than 35 years of experience in the civil aviation industry. Immediately after graduation in Commerce in 1967, he joined the travel business with the General Sales Agents for Lebanese International Airlines. Subsequently, he was appointed the Public Relations Manager of Iraqi Airways in 1969 and from 1971 to 1974 was the Regional Manager for ALIA, Royal Jordanian Airlines.

During this period, Mr. Goyal also worked with the Indian offices of Middle Eastern Airline (MEA) where he gained experience in various areas including ticketing, reservations and sales. During this period, he underwent extensive training in all facets of the travel business and undertook considerable international travel on business.

He was thereafter appointed Regional Manager of Philippine Airlines where he handled the commercial operations of the airline in India. With the wide experience, expertise and technical know-how Mr. Goyal acquired, he founded Jetair Private Limited (then known as Jetair Transportation Private Limited) in 1974 with the objective of providing sales and marketing representation to foreign airlines in India. Shortly thereafter in 1975, he was appointed Regional Manager of Philippine Airlines in India.

In Jetair, Mr. Goyal was directly involved in marketing studies and traffic development in the Far East, Middle East, and Europe, the U.K. and the U.S.A. Mr. Goyal has also been involved in developing studies of traffic patterns, route structures, operational economies and flight scheduling, all of which have made him an authority in the world of aviation and travel.

As Chairman of the GSA company, Jetair Private Limited and the other promoter group companies such as International Cargo Carriers Limited, National Travel Service and France Air Ltd. he has imparted expertise to these companies and further refined his knowledge of the operation of passenger and cargo services and promotion and development of tourism.

In 1992, as part of the ongoing diversification of his business interests, Mr. Goyal caused to be promoted our Company for operating scheduled air services in India.

In recognition of his achievements, Mr. Goyal has been the recipient of several national and international awards. In 2000, he received the ‘Entrepreneur of the Year Award’ for Services from Ernst & Young and the ‘Distinguished Alumni Award’ for distinguished performance as an entrepreneur. Other awards conferred on Mr. Goyal include the ‘Outstanding Asian Indian’ award for leadership and contribution to the global community given by the Indian American Centre for Political Awareness in 2003, the Qimpro Gold Standard Award in 2002 and the Aerospace Laurels Award for outstanding achievement in the field of commercial air transport, which has been awarded to him twice, in April 2000 and February 2004. Mr. Goyal has also been recently elected to the Board of Governors of IATA in June 2004.

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