Biography of Naresh Goyal
Naresh Goyal
Born: 29 July 1950, Sangrur, Punjab
Career/Business/Position: Founder Chairman of Jet Airways
Naresh Goyal was an Indian businessman who is also the founder and chairman of India’s renowned air carrier Jet Airways. He created Jet Airways in 1993. Today, Jet Airways operates 300 flights daily from 74 locations. At present, Jet Airways is the second largest airline in India. Naresh Goyal’s name has been added to India’s list of the most wealthy billionaires published in Forbes magazine.
The first step in life.
Naresh Goyal was born on the 29th of January 1949, to a jeweler living in Nabha Gate, Sangrur, Punjab. He attended a government education institution (Raj High School For Boys) until the 6th grade. At the age of eleven years old, the family was facing major financial challenges and the house was auctioned off. Then Naresh began living at the home of his maternal uncle. When he was 18, he completed an education degree.
Biography of Naresh Goyal
Carrier
He began his career as a cashier. He began work for his father Seth Charan Das Ram Lal. His uncle owns an agency for travel. Naresh Goyal started his journey working as a general sales rep in the company of Lebanon International Airlines in 1967 following his graduation in commerce. From 1967 until 1974, he worked for various foreign airlines to understand the intricacies of the aviation industry.
Naresh Goyal established Jet Air (Private) Limited in May 1974 with the goal of overseeing the marketing and sales of foreign airlines operating in India. Naresh Goyal was involved in important issues such as traffic patterns, route structure, and operational economics as well as flight schedules. His expertise and understanding of the intricacies of the aviation industry have made him a prominent person in his field of expertise in the Indian aerospace industry.
In the year 1991, when the Indian government began opening the Indian market under their New Economic Policy, Naresh Goyal established Jet Airways to take advantage of the Indian government’s Open Skies policy to operate scheduled flights on domestic routes. India. Jet Airways commenced commercial operations on May 5th, 1993.
Presently, Jet Airways is the second largest airline in India. Jet Airways is headquartered in Mumbai which is the capital of commerce of India. In addition, it has office locations situated in Chennai, Kolkata, Bangalore, and Delhi. Since its founding, Jet Airways has been awarded numerous international and national accolades. In 2005, Jet Airways undertook its IPO which was incredibly successful.
On January 6, 2006, Jet Airways announced the acquisition of India’s Sahara Airlines in an all-cash deal. It was the largest transaction of its kind in Indian aviation history and would make Jet India the world’s biggest airline, but the acquisition was scrapped in June. On April 12, 2007, Jet was able to purchase Air Sahara for INR14.5 billion (US$340,000,000). Air Sahara was renamed Jetlite and then became a low-cost airline and airline with full-service services.
Biography of Naresh Goyal
Honors and Awards
Alongside the success in the case of Jet Airways, Naresh Goyal’s name is also a part of the most successful entrepreneurs in the Indian business world. He has been recognized with numerous prizes.
Ernst & Young honored him with the Entrepreneur of the Year Award for Services in 2000.
He was named ‘Best Asian Indian by the Indian-American Center for Political Awareness, for his leadership and contributions to the world community.
Two times ‘Aerospace Award’ (2000, 2004) for outstanding contributions to the aviation industry.
Naresh Goyal received his first award – BM Munjal, which recognizes the highest quality in training and development in the private sector.
Life events
1949: Born in Sangrur, Punjab
1967: Graduated from Commerce
Between 1967 and 1974: Naresh Goyal worked for various foreign airlines
1993 Jet Airways was founded
The year 2000 was the one in which Ernst & Young honored him with the “Entrepreneur of the Year Award for Services.
2005: Jet Airways undertakes its IPO and is extremely successful.
2007. Jet has agreed to purchase Air Sahara for INR14.5 billion (US$340,000,000).
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