SpiceJet chief Ajay Singh Monday said it was a "sad day" for Indian aviation as Naresh Goyal and his wife Anita Goyal stepping down from the board of Jet Airways.
Naresh Goyal is the Founder and Chairman of Jet Airways, a full-service airline that has been flying for more than 25 years.
Referring to the latest developments, Singh, who is the Chairman and Managing Director of budget carrier SpiceJet, also said it was a wake-up call for the country's policymakers to address structural challenges that is making domestic airlines uncompetitive.
Goyal and his wife will step down from Jet Airways' board under a resolution plan piloted by its lenders.
"Today is indeed a sad day for Indian aviation. By launching a truly world class airline, Naresh and Anita Goyal made India proud," Singh said in a statement.
He also said that it was a wake-up call for Indian policy makers.
"We urgently need to address structural challenges that make India's airlines uncompetitive to airlines around the world," he added.