Naresh Goyal is an entrepreneur and the founder of the Indian international airline Jet Airways.
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Wiki/Biography
Naresh Goyal was born on 29 July 1949 (age 74 years; as in 2023) in Sangrur, Punjab, India. He was educated at the Government Raj High School in Sangrur, Punjab. He completed his graduation in commerce from Government Bikram College of Commerce, Patiala, Punjab. When he was 11 years old, his family faced a financial crisis and all their assets, including the house they owned, were auctioned by the government and banks. His maternal uncle supported him in his college studies. Initially, Naresh wanted to pursue Chartered Accountancy, but due to financial constraints he opted for B.Com.
Naresh Goyal in his younger days
Family, Wife and Caste
Naresh Goyal was born in a Punjabi Hindu family. His father was a jewelery merchant and his mother was a housewife. He lost his father when he was a child. He has an elder brother, the late Surinder Kumar Goyal, co-founder of Jet Air (travel agency).
Naresh Goyal’s mother
Naresh Goyal is married to Anita Goyal, who has been associated with Jet Airways since its inception and is also a marketing analyst. The couple has a daughter, Namrata Goyal (director of a production house called Filmstock Pvt. Ltd.) and a son, Nivan Goyal (board of directors of Jet Airways).
Naresh Goyal with his wife Anita Goyal
Naresh Goyal with his wife (far left) and children
livelihood
In 1967, after graduation, Naresh joined his uncle’s travel agency as a cashier. In 1969, due to his dedication and hard work, Naresh was appointed as the Public Relations Manager of Iraqi Airways. He also served as regional manager of Royal Jordanian Airlines between 1971 and 1974. During this time he gained experience in the areas of ticketing, reservations and sales and also worked with Indian executives of Middle Eastern airlines.
Naresh Kumar as Regional General Manager of Royal Jordanian Airlines
In 1974, Naresh borrowed some money from his mother and started his own startup travel agency along with his brother Surinder Kumar Goyal and named it JetAir. His agency represented sales and marketing for airlines such as Air France, Austrian Airlines and Cathay Pacific. In 1975, Naresh was appointed regional manager of Philippine Airlines and took over the airline’s commercial operations in India.
Naresh Goyal in his early days
In 1991, the Government of India announced the Open Skies Policy. Naresh used this opportunity to start an airline company. In 1992, his travel agency transformed into Jet Airways. On May 5, 1993, Jet Airways began its operations nationwide and by 2004, Jet Airways began operating international flights. In 2007, Jet Airways acquired Air Sahara and by 2010 became the largest air carrier in India.
Jet Airways’ first aircraft
Naresh Goyal with Jet Airways Board Member Shri Ali Ghandour
controversies
- During the 2000s, a PIL was filed against Naresh, accusing him of having links with underworld don Dawood Ibrahim. The PIL states that Jet Airways was funded by Dawood. However, Naresh was given a clean chit by the government and was also given security clearance.
Dawood Ibrahim
- In March 2020, a money laundering case was registered under the Foreign Exchange Management Act (FEMA) by the Enforcement Directorate (ED) for his involvement in suspicious transactions involving 19 privately held firms linked to him.
- On July 14, 2023, the CBI filed an FIR against Goyal, his wife and several others accusing them of committing bank fraud worth Rs. 538 crores. The Enforcement Directorate (ED) raided the residences of Naresh Goyal and his associates in Delhi and Mumbai on July 19, 2023. According to the ED chargesheet, Naresh Goyal and his family members allegedly misused public money earned through business. Loan from Canara Bank for various purposes including acquisition of four flats in Mumbai. After being proved guilty in the case, the Enforcement Directorate arrested Naresh Goyal on 1 September 2023. On September 14, 2023, the court sent him to judicial custody for 14 days. On November 1, 2023, the Enforcement Directorate had seized assets worth Rs. Rs 538 crore of Naresh and his family members. These properties include residential flats, bungalows and commercial premises; The properties are located in London, Dubai and various cities in India.
Awards/Honors
- The Iconic Indian Award (Aviation) – India International Tourism Market – 2016
Naresh Goyal honored with prestigious Indian Award (Aviation) by India International Tourism Market
- Hall of Fame – Hotel Investment Forum of India – 2011
- Commander of the Order of Leopold II – Belgium – 2011
- Lifetime Achievement Award of the Year – Travel Agents Association of India – 2010
- India Business Leader Award – CNBC TV18 – 2009
- Man of the Year Award – Aviation Press Club – 2008
- NDTV Profit Business Award – 2006
- Entrepreneur of the Year Award – Ernst & Young – 2000
net worth
As of 2017, Naresh’s net worth was estimated to be ₹3,000 crore ($500 million).
fact
- Naresh’s first salary was ₹300 per month as a cashier in his uncle’s travel agency.
- When his house was auctioned by the government, he moved to his maternal uncle’s house. During his struggling days, Naresh used to sleep on the floor of his uncle’s office.
- From 2004–2006, Naresh was appointed to the board of the International Air Transport Association (IATA). He was re-elected in 2008 and served in this position until 2016.
Naresh Goyal during his early days
- Although Naresh owns an airline company, he neither knows how to drive a car nor how to swim.
- On 17 July 2018, the monarch signed an $8.8 billion deal to buy 75 aircraft from Boeing.
Categories: Biography
Source: vcmp.edu.vn