Former tennis star Vijay Amritraj resigned from the board of Kingfisher Airlines Ltd, effective from March 14.
With this development, the company will be left with just four board members, including one independent director.
"Vijay Amritraj has, because of increase in his travel schedule and commitments that will prevent him from attending any board meetings in 2012-13, resigned from the board of directors of the company," Kingfisher Airlines said in a filing to the BSE Wednesday.
Amritraj joined the Kingfisher board after the airline purchased low-cost carrier Air Deccan in 2007. He was previously with the Air Deccan board.
Last year, Diwan Arun Nanda quit the board of the airlines, citing personal reasons. Currently, chairman Vijay Mallya, vice-chairman Subhash Gupte, president and chief financial officer A K Ravi Nedungadi and ICAI member Anil Kumar Ganguly are the remaining directors on the company's board.
According to the Wall Street Journal's report, Kingfisher has revealed that it would cut some overseas flights in order to reduce costs. Meanwhile, in afternoon trade, Kingfisher shares were down 1.0 percent at 20.45 rupees after earlier rising as high as 21.30 rupees.
Kingfisher is getting into deep trouble with each day passing, and with Amritraj resigning at this time, it is going to affect a lot to the stability of the crisis-ridden airline.
Amritraj (57) played the role of an independent director on the board. The Padma Shri award winning former tennis player runs the Vijay Amritraj Foundation. Further, he is a designated United Nations Messenger of Peace and a recipient of the International Sportsman of the Year Award for the year 1987.
He led India to Davis Cup finals in 1974 and 1987.