Naresh Goyal, Indian Entrepreneur & Founder Chairman of Jet Airways

Naresh Goyal - Jet Airways

Naresh Goyal is an Indian entrepreneur and the Founder Chairman of Jet Airways, India’s premier international airline.

He is a non-resident Indian (NRI) businessperson. He started Jet Airways in 1993 with initial seed money from Tail Winds incorporated, Isle of Man.

Naresh Goyal net worth

He declared the 16th richest person in India, with a net worth of US$1.9 billion by the Forbes magazine.

Recently he does not feature on the Forbes list. He is currently valued at $3.2 Billion.

He comes with a 40 years of experience in the Civil Aviation industry.

Naresh Goyal was born on 29th July 1949. He was born in Sangrur, Punjab in the house of a jewellery dealer.

He lost his father in childhood. Up to 6th standard he studied at Govt. Raj High School for Boys.

At the age of eleven years, his house was auctioned due to economic crisis. He got his bachelor degree of commerce from Govt. Bikram College of Commerce, Patiala.

Naresh Goyal wanted to become a Chartered Accountant, but due to their financial constraints, he was forced to do Bachelors in Commerce. His is the perfect rags to riches story, or from the streets to the sky.

Naresh got married to Anita Goyal. The couple have a son Nivaan Goyal & a daughter Namrata Goyal.

He began his career as cashier at his maternal uncle Seth Charan Das Ram Lal’s travel agency, East West Agencies in 1967. He received 300rs as a first salary.

After graduation, he joined the travel business with the GSA for Lebanese International Airlines. He was appointed as a public relation manager of Iraqi Airways in 1969.

Naresh Goyal was the regional manager for ALIA, Royal Jordanian Airlines during 1971 to 1974. He worked with the Indian offices of Middle Eastern Airline (MEA).

There he experienced various areas including ticketing, reservations and sales. He set up his own agency named Jetair in 1974.

He started it with £500; he borrowed it from his mother. He was appointed as regional manager of Philippine Airline in India in 1975.

He stepped down from the Board of Jet Airways on 25th March 2019 along with his wife Anita Goyal due to financial crisis in the airline and after two-thirds of fleet grounded.

He took advantage of the opening of the Indian economy by P. V. Narsimha Rao, then the enunciation of the Open Skies Policy by the Government of India to set up Jet Airways.

Naresh Goyal set up Jet Airways for the domestic flying. On 5th May 1993, Jet Airways commenced commercial operations.

During 2004 to 2006, he served on the board of the International Air Transport Association (IATA). In 2007, he acquired “Air Sahara” for a whopping $500 and re-launched it as “Jetlite“. In 2008, he was re-elected with his tenure extending until June 2016.

By the third quarter of 2010, Jet Airways became the largest airline in India with a passenger market share of 22.6%.

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The Enforcement Directorate questioned Goyal for investigating charges of foreign exchange violation against him in 2019. In 2020, he was detained and then questioned for money laundering by the ED.