Naresh Goyal

Chairman of Jet Airways

Net worth: US$1.9 billion

Naresh Goyal is an Indian businessman and founder Chairman of Jet Airways. He started operating Jet Airways in 1993. Following the 2005 IPO of Jet Airways, Forbes magazine declared him the sixteenth richest person in India, with a net worth of $1.9 billion. He currently does not feature on the Forbes list.

Alleged links between mafia don Dawood Ibrahim and Jet Airways chairman and promoter Naresh Goyal have been reported as early as 2002.

In 1967, Goyal began his career as a cashier in his maternal uncle Seth Charan Das Ram Lal's travel agency, East West Agencies, at a starting salary of Rs 300 a month. After graduating in Commerce, Goyal joined the travel business with the GSA for Lebanese International Airlines.

From 1967 to 1974, he underwent extensive training in the travel business through his association with several foreign airlines. He travelled overseas extensively on business during this period.

In 1969, he was appointed the public relation manager of Iraqi Airways and from 1971 to 1974 was the regional manager for ALIA, Royal Jordanian Airlines. He also worked with the Indian offices of Middle Eastern Airline (MEA), where he gained experience in various areas including ticketing, reservations and sales. in 1974, with £500 from his mother, he set up his own agency named Jetair, representing the likes of Air France, Austrian Airlines and Cathay Pacific.

In 1975, he was appointed regional manager of Philippine Airline in India.

Jet Airways

In 1991, Goyal took advantage of the opening of the Indian economy and the enunciation of the Open Skies Policy by the Government of India to set up Jet Airways for the operation of scheduled air services on domestic sectors in India. Jet Airways commenced commercial operations on May 5, 1993. Goyal founded Jet Airways (Private) Limited with the objective of providing sales and marketing representation to foreign airlines in India.

Goyal served on the Board of the International Air Transport Association (IATA) from 2004–2006. He was re-elected in 2008 with his tenure extending until June 2016.

Awards

Entrepreneur of the Year Award for Services from Ernst & Young

Distinguished Alumni Award-2000 for meritorious and distinguished performance as an entrepreneur

Outstanding Asian-Indian award for leadership and contribution to the global community given by the Indian American Centre for Political Awareness

Aerospace Laurels for outstanding contribution in the field of Commercial Air Transport

The first BML Munjal Award for Excellence in Learning & Development in the Private Sector category

NDTV Profit Business Award 2006

Accorded the prestigious TATA AIG – Lifetime Achievement Award

Travel Entrepreneur of the Year award at the 19th annual TTG (Travel Trade Gazette) Travel Awards

Man of the Year Award by the Aviation Press Club (APC)

Business Person of the Year award by UK Trade & Investment at the India Business Awards 2008

CNBC TV18 India Business Leader Awards

International Entrepreneurs of the Year by the readers of Asian Voice

Lifetime Achievement Award of the Year by the Travel Agents Association of India (TAAI)

Hall of Fame honour from Hotel Investment Forum of India 2011

Belgium conferred the Commandeur of the Order of Leopold II, one of the country's highest civilian distinctions

Amity Leadership Award for Business Excellence