Jet Airways chief executive officer-designate Sanjiv Kapoor will be departing the company just a year post joining the grounded carrier. He joined Jet Airways last year in April. His venture as the CEO of the company will come to an end effective on May 1, the conclusion of his notice period.
In a statement released by the consortium trying to save the airline, it said that it would oversee CEO-designate duties until a suitable replacement could be found. In January, the Jet Airways management committee requested that Mr Kapoor refrains from using the title of CEO until a group of lenders had fully acquired ownership of the ailing airline.
Before joining Jet Airways in April 2022, Kapoor had previously worked at Vistara, Spicejet, and Oberoi Hotels, among other places. Hopes that the airline, which last took to the sky in 2019, could soon resume operations are further dashed by his departure.
Mr Kapoor said in a statement, “I am proud to have been part of a fantastic team that came together with JKC to create history by reviving an airline for the first time in India. It is not an ordinary airline we set out to revive – it is Jet Airways, one of the most loved airlines in India for the last 25 years it operated before ceasing operations in 2019″
He further added that although the resumption of operations was not able to occur as planned in 2022, he is proud of the ground-breaking business plan they created and the progress they made. He is a firm believer in the enormous value that full-service carriers like Jet Airways can produce after bankruptcy re-structuring. He also said that he is aware that JKC is fully committed to the revival of Jet Airways and he wishes them the best of luck.
A recovery plan created by a partnership between Murari Lal Jalan, located in Dubai, and Kalrock Capital, currently known as JKC, a British company, was authorised by the airline’s committee of creditors in October 2020. The airline has not flown since April 2019 as a result of financial issues.
Also Read: Major Boost for Hydro Energy: 3,110 MW Hydro Power Units to Launch This Fiscal Year
Due to continuing tensions with Pakistan, the Board of Control for Cricket in India (BCCI)…
India now exports seafood to 130 countries, up from 105 in 2014-15, reflecting the expanding…
Significantly, ICRA called the FTA a game-changer for both countries. “Trade is expected to double…
India has retained its position as the world’s largest market for electric three-wheelers (3Ws) for…
India’s pharmaceutical sector continues to rise on the global stage, driven by innovation, affordability, and…
Neeraj Chopra made history at the Doha Diamond League 2025, becoming the first Indian javelin…