Former foreign secretary Ranjan Mathai quits Jet Airways board as independent director

Crisis-hit Jet Airways said Thursday that retired diplomat Ranjan Mathai has resigned as an independent director on its board due to his other commitments.

Mathai, a former foreign secretary, is the second independent director to quit Jet Airways board in two weeks after Vikram Singh Mehta.

According to the airline, Mathai was quitting because of increasing demands on his time from his other commitments, including some of academic nature.

"I am no longer able to devote the time required to meet my obligations as an independent director on the board of Jet Airways and have accordingly decided to resign from the board," Mathai was quoted as saying in Jet Airway's statement.

He had joined the board last year.

Jet Airways is grappling with financial woes and is in discussions with several investors for raising funds.